LN Robotics secures KRW 20 billion in Series B funding
- 2024.07.26
We are pleased to announce that LN Robotics has secured KRW 20 billion in Series B funding
LN Robotics, a company specializing in artificial intelligence (AI) and medical robots, has secured a Series B investment of 20 billion won ($14.5 million) and will use the funds to enter overseas markets. “With this Series B investment, we have secured the momentum to enter the domestic and overseas markets for our cardiovascular interventional robot,” said Choi Jaesoon, CEO of LN Robotics, ”and we plan to expand our medical robot pipeline with FDA approval.”
The investment was led by LB Investment, one of Korea's leading venture capital (VC) firms. Industrial Bank of Korea and KB Investment joined as new investors, with follow-on investments from Mirae Asset Venture Investment and Stick Ventures, bringing the total number of investors to five.
“AVIAR has recently demonstrated a 100% technical and clinical procedure success rate in a multi-institutional clinical study of 20 cases,” Choi said, adding, "AVIAR has an edge over overseas competitors with its ’multi-channel tool control' that can be applied to a wide range of procedures, including complex cases, and a haptic interface that helps with intuitive and precise tool manipulation.”
The company plans to diversify its products to include cerebrovascular and peripheral vascular interventional robots, pain intervention robots, and rehabilitation robots. In particular, it strives to secure next-generation core technologies such as automating robotic procedures with AI and providing intelligent image information. To this end, the company is conducting joint research with leading domestic and foreign organizations in France and the United States.
“We hope to be able to position ourselves as a company that plays a role in the growth of AI and medical robotics technology in Korea and the promotion of clinical practical application,” Choi said.