HoneyNaps, a startup from South Korea that gives AI for the analysis of sleep issues, has raised $11.6 million from a current Sequence B funding spherical.
WHAT IT’S FOR
In accordance with a press assertion, its recent funds shall be used to cement its presence in america market. At current, the sleep know-how sector there may be valued at $9 billion. It’s projected to grow to $39 billion by 2033, pushed by the rising consciousness of sleep well being and the mixing of sleep know-how units into healthcare methods. HoneyNaps is already working within the nation from its Boston workplace.
Final 12 months, HoneyNaps acquired the US Meals and Drug Administration’s approval for its flagship providing, SOMNUM. The software program makes use of AI to analyse bio-signal information which might be culled throughout sleep and to offer illness analysis inside 5 minutes.
In a current assertion, a HoneyNaps finance official revealed that they plan to develop the applying of their AI to different medical situations, “reminiscent of heart problems, dementia, and Parkinson’s illness.”
Since its founding in 2015, it has amassed $16.2 million in funding.
MARKET SNAPSHOT
In 2022, Australian firm ResApp additionally acquired the US FDA’s 510(ok) clearance for its cellular sleep apnoea screening software, SleepCheckRx. The prescription-only cellular software program was an at-home check for adults prone to average to extreme obstructive sleep apnoea. The app is not marketed to the general public following ResApp’s acquisition by Pfizer.
Final 12 months, two Japanese corporations, Four H and Aculys Pharma, began collaborating to make use of AI and different strategies of research to achieve a deeper understanding of sleep issues, notably narcolepsy and extreme daytime sleepiness related to obstructive sleep apnoea. Additionally they goal to establish digital biomarkers of such issues.
