On October 6, 2022, health tech startup Ubie announced that it raised 6.26 billion yen ($43B) in a Series C round.
Ubie is a health tech startup founded in May 2017 by Yoshimichi Abe, a doctor, and Kota Kubo, an engineer, with the mission of "guiding people to appropriate medical care with technology.” The company develops and provides "Ubie," which uses AI as its core technology to guide patients to appropriate medical care based on their symptoms, and "Ubie AI Medical Questionnaire," which aims to improve the efficiency of medical workplaces. The company also plans to go in to overseas market in 2020 in order to expand its technology developed in Japan, a country with advanced medical care, to the rest of the world.
Following the 3.5 billion yen fundraising in July, the company raised an additional 2.76 billion yen to close the Series C round for a total of 6.26 billion yen. This round was funded by equity investments from Sogo Medical, AAIC Investment Pte. Ltd., Japan Impact Investment, and Rakuten Capital, as well as loans from The Shoko Chukin Bank, Ltd. This brings the company's cumulative capital funding to 10.72 billion yen since its foundation.
Ubie will not only focus on collaboration between consumers/patients and medical institutions, which has been a focus of the company for some time, but also strengthen collaboration with pharmaceutical companies. By connecting the three parties on our medical platform, Ubie aims to create an unprecedented medical experience that solves their problems by providing a system that delivers information and scientific knowledge about diseases and drugs held by pharmaceutical companies to consumers, patients, and medical institutions at the timing necessary for them to receive it.
In addition, for the purpose of strengthening its management structure and governance, the company has appointed Ryusuke Shigetomi, Chairman and Representative Director of Blackstone Group Japan K.K., as a board member and Kazumi Yoshikawa, CPA, as a full-time auditor. Shigetomi said on his appointment as a board member:
Japan's advanced medical technology is an asset that we should be proud to share with the world. We believe that Ubie, which aims to create unprecedented medical experiences through technology, will play a role in extending healthy life expectancy around the world as a company originating from Japan. We intend to contribute to the realization of Ubie's corporate philosophy by leveraging my expertise in international and corporate finance.
Ubie’s company profile is here: