# Noul Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/noul-co

- Industry: Medical Devices & Equipment
- Headquarters: Yongin, South Korea
- Website: www.noul.kr
- Total disclosed funding: $19M
- Latest round: Series B (Jun 2, 2020)
- Investors on record: 9

## About

Based in South Korea, Noul develops innovative diagnostic solutions focused on blood and tissue diagnostics, aiming to enhance medical access and address critical healthcare challenges, including cancer detection.Noul Co., Ltd. was founded in 2015 in Yongin, South Korea, specializing in diagnostic solutions. The company was co-founded by David Lim and Youngmin Shin, with David Lim currently serving as CEO. Noul has engaged in 7 deals, with its most recent deal occurring on March 3, 2022, when it raised KRW 15 billion in an IPO, selling 1.5 million shares at KRW 10,000 each. This round raised a total of KRW 15 billion, with key investors including Korea Investment & Securities and Samsung Securities.Noul specializes in innovative diagnostic solutions with a primary focus on blood and tissue diagnostics. Their flagship product, the miLab™ Solution, integrates advanced digital microscopy with artificial intelligence to streamline diagnostic processes such as malaria and cancer detection. Key products include miLab™ MAL for malaria analysis and miLab™ BCM for complete blood count and morphology analysis, targeting healthcare providers, laboratories, and diagnostic centers across Europe, the Middle East, and Africa.In 2023, Noul reported a revenue of KRW 2,094,137.4, with an EBITDA loss of KRW 10,929,638.2. The company generates revenue through B2B partnerships with healthcare institutions and diagnostic labs, selling products like miLab™ MAL and miLab™ BCM, typically through multi-year contracts or one-time purchases.Following its recent IPO on March 3, 2022, Noul plans to utilize the raised KRW 15 billion to enhance its product line and expand into new markets. Specific upcoming product launches are being designed, but no release dates have been provided. Noul aims to penetrate additional regions and markets by targeting healthcare sectors in Asia and North America, with strategic rollout plans set for the next few years.

## Funding rounds

- Series B, Jun 2, 2020, $14M — Korea Development Bank, Smilegate Investment, Premier Partners, NH Investment & Securities, Albatross Investment, DAYLI Partners
- Series A, Feb 1, 2019, $4.9M — ES Investor, JX Partners, DAYLI Partners
- Seed, Mar 25, 2017, $0.1M — FuturePlay

## Investors

- FuturePlay (https://capitalatlas.ai/funds/futureplay) — Seed
- ES Investor (https://capitalatlas.ai/funds/es-investor) — Series A
- JX Partners (https://capitalatlas.ai/funds/jx-partners) — Series A
- DAYLI Partners (https://capitalatlas.ai/funds/dayli-partners) — Series A, Series B
- Korea Development Bank (https://capitalatlas.ai/funds/korea-development-bank) — Series B
- Smilegate Investment (https://capitalatlas.ai/funds/smilegate-investment) — Series B
- Premier Partners (https://capitalatlas.ai/funds/premier-partners) — Series B
- NH Investment & Securities (https://capitalatlas.ai/funds/nh-investment-securities) — Series B
- Albatross Investment (https://capitalatlas.ai/funds/albatross-investment) — Series B