# IBEX Medical Systems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ibex-medical-systems

- Industry: Medical Devices & Equipment
- Headquarters: Wonju, South Korea
- Website: www.ibex.co.kr
- Total disclosed funding: $16M
- Latest round: Series C (May 16, 2025)
- Investors on record: 10

## About

Based in South Korea, IBEX Medical Systems specializes in the design and manufacture of advanced hyperbaric oxygen chambers for medical applications, enhancing treatment options for various health conditions.

IBEX Medical Systems operates in the hyperbaric medical technology sector, providing innovative solutions since its founding in 2011. The company is headquartered in Wonju, South Korea, and has successfully raised funding through three deals, with the most recent being a Series C round in May 2025. This round raised KRE 14.1 billion, led by E&Investment and supported by several other investors including BTC Investment and Industrial Bank of Korea, bringing the total amount raised to KRE 14.1 billion. The CEO, Brian Yoon, has a leadership history that supports the company’s strategic growth.

IBEX Medical Systems specializes in the design and manufacture of hyperbaric oxygen chambers for medical and clinical applications. Their core products include the IBEX Tetragon and IBEX Omega, which are multi-place hyperbaric chambers that accommodate multiple patients simultaneously, as well as the IBEX Light and IBEX M2, designed for individual treatments. These chambers enhance oxygen supply to tissues, facilitating effective treatment for conditions such as carbon monoxide poisoning and non-healing wounds. The company also offers the MiraDry device for hyperhidrosis treatment, serving hospitals and healthcare providers globally, especially in the United States and Europe.

IBEX Medical Systems generates revenue through direct sales of its hyperbaric oxygen chambers and related medical devices, targeting healthcare facilities. Transactions typically involve direct sales to hospitals and medical centers, which procure the chambers as capital investments. Pricing plans are structured around contracts that may include installation and after-sale support. The company also engages in partnerships for ongoing clinical research, reinforcing its relationships with clients and ensuring compliance with medical standards, which stabilizes its financial position in the medical device market.

In May 2025, IBEX Medical Systems raised KRE 14.1 billion in Series C funding, led by E&Investment. The funding will be used to enhance their pain management technology focused on the tympanic membrane. The company plans to expand its product offerings with new innovations aimed at improving patient outcomes, while also targeting new markets for growth beyond their current operations, focusing on regions such as North America and Europe by 2026.

## Funding rounds

- Series C, May 16, 2025, $10M — KB Kookmin Bank, Industrial Bank of Korea, E&Investment, SEMA Translink Investment, ROI Investment Partners, Bithumb Investment, NICE D&B Co.,Ltd.
- Series B, Oct 20, 2023, $4.2M — Smilegate Investment, Capstone Partners
- Series A, Jul 29, 2020, $2.2M — Tigris Investment

## Investors

- Tigris Investment (https://capitalatlas.ai/funds/tigris-investment) — Series A
- Smilegate Investment (https://capitalatlas.ai/funds/smilegate-investment) — Series B
- Capstone Partners (https://capitalatlas.ai/funds/capstone-partners) — Series B
- KB Kookmin Bank — Series C
- Industrial Bank of Korea — Series C
- E&Investment (https://capitalatlas.ai/funds/e-investment) — Series C
- SEMA Translink Investment — Series C
- ROI Investment Partners (https://capitalatlas.ai/funds/roi-investment-partners) — Series C
- Bithumb Investment (https://capitalatlas.ai/funds/bithumb-investment) — Series C
- NICE D&B Co.,Ltd. — Series C