# Neurophet

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/neurophet

- Industry: Healthcare IT
- Headquarters: Seoul, South Korea
- Website: www.neurophet.com
- Total disclosed funding: $40M
- Latest round: Series C (Nov 1, 2023)
- Investors on record: 20

## About

Based in South Korea, Neurophet Inc. develops AI-driven brain imaging analysis solutions to support diagnosis and treatment of brain diseases, including Multiple Sclerosis and Alzheimer's disease.Neurophet Inc. specializes in AI-powered brain imaging analysis, aimed at aiding medical professionals in diagnosing and managing brain diseases. Founded in 2016 in Seoul, South Korea, the company has secured a total of KRW 1 billion in funding, with the most recent investment occurring on February 29, 2024, from Samjin Pharmaceutical. The firm's founders are Donghyeon Kim and Junkil Been, who also serves as the CEO. Neurophet's strategic focus has remained consistent, emphasizing the importance of technological advancements in neuroimaging without any reported pivots or changes in operations.Neurophet specializes in AI-driven brain imaging analysis solutions designed to support the entire lifecycle of brain diseases. Their core offerings include products such as Neurophet AQUA, which focuses on the analysis of conditions like Multiple Sclerosis and Alzheimer's disease, alongside advanced neuromodulation techniques including transcranial Direct Current Stimulation (tDCS). These products are aimed at medical professionals, including neurologists and radiologists, and are utilized in various clinical settings to enhance treatment planning, drug efficacy monitoring, and clinical research imaging analysis. The company serves a global client base, including partnerships with notable institutions like the Department of Radiology at the University of Washington and Nanyang Technological University in Singapore. Neurophet's solutions are marketed in North America, Europe, and Asia, addressing critical needs in neuro-degeneration, neuro-modulation, and neuro-vascular conditions.Neurophet generates revenue primarily through partnerships and subscription-based models, enabling direct access to their innovative imaging analysis services. Clients, including hospitals and research institutions, engage with Neurophet for ongoing support and access to its suite of products, facilitating long-term relationships and repeat business. For instance, Neurophet AQUA is positioned as a flagship product for Multiple Sclerosis analysis, involving licensing agreements or service contracts that provide continuous updates and support. This structure ensures that clients receive comprehensive training and access to the latest advancements in AI-driven analysis, fostering a robust ecosystem for both Neurophet and its partners.In February 2024, Neurophet Inc. raised KRW 1 billion in venture funding from new investor Samjin Pharmaceutical. The company will utilize the funding to conduct research collaboration with the investor and pursue product commercialization. Neurophet aims to develop and launch new products that enhance their existing solutions, with specific timelines for market entry to be established post-collaboration. Expansion plans include targeting additional markets in Europe and North America by 2025, furthering their reach in the neuroimaging sector.

## Funding rounds

- Series C, Nov 1, 2023, $15M — Industrial Bank of Korea, Solidus Investment, Kolon Investment, QUAD Investment Management, KB Securities, Mirae Asset Securities, Xoloninvest, SEOIL E&M, Prophet Asset Management, DB Securities
- Series B, Nov 1, 2021, $16M — SBI Investment Korea, Kolon Investment, FuturePlay, ES Investor, The Wells Investment, J Curve Investment, Prophet Asset Management
- Series A, Jan 28, 2020, $2.6M — SBI Investment Korea
- Series A, Nov 27, 2019, $5.1M — Shinhan Bank, Kolon Investment, Magellan Technology Investment, ES Investor, Daedeok Venture Partners, LEO Partners Investment
- Seed, Nov 1, 2016, $0.6M — FuturePlay, Korea Tech Incubator for Startup
- Seed, Oct 1, 2016, $0.1M — FuturePlay

## Investors

- FuturePlay (https://capitalatlas.ai/funds/futureplay) — Seed, Series B
- Korea Tech Incubator for Startup — Seed
- Shinhan Bank — Series A
- Kolon Investment (https://capitalatlas.ai/funds/kolon-investment) — Series A, Series B, Series C
- Magellan Technology Investment (https://capitalatlas.ai/funds/magellan-technology-investment) — Series A
- ES Investor (https://capitalatlas.ai/funds/es-investor) — Series A, Series B
- Daedeok Venture Partners (https://capitalatlas.ai/funds/daedeok-venture-partners) — Series A
- LEO Partners Investment (https://capitalatlas.ai/funds/leo-partners-investment) — Series A
- SBI Investment Korea (https://capitalatlas.ai/funds/sbi-investment-korea) — Series A, Series B
- The Wells Investment (https://capitalatlas.ai/funds/the-wells-investment) — Series B
- J Curve Investment (https://capitalatlas.ai/funds/j-curve-investment) — Series B
- Prophet Asset Management (https://capitalatlas.ai/funds/prophet-asset-management) — Series B, Series C
- Industrial Bank of Korea — Series C
- Solidus Investment (https://capitalatlas.ai/funds/solidus-investment) — Series C
- QUAD Investment Management (https://capitalatlas.ai/funds/quad-investment-management) — Series C
- KB Securities (https://capitalatlas.ai/funds/kb-securities) — Series C
- Mirae Asset Securities (https://capitalatlas.ai/funds/mirae-asset-securities) — Series C
- Xoloninvest (https://capitalatlas.ai/funds/xoloninvest) — Series C
- SEOIL E&M — Series C
- DB Securities (https://capitalatlas.ai/funds/db-securities) — Series C