# Solmedix Co.

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

- Industry: Software
- Headquarters: Seoul, South Korea
- Website: www.solmedix.com
- Total disclosed funding: $5.9M
- Latest round: Series B (Nov 13, 2024)
- Investors on record: 6

## About

Based in South Korea, Solmedix Co., Ltd. is a medical device company dedicated to developing and commercializing innovative surgical solutions and drug delivery systems for healthcare providers.Solmedix Co., Ltd. focuses on the creation of advanced medical devices. Founded in 2015, the company is headquartered in Seoul, South Korea. The founder, In-cheol Yang, has a notable background in the medical device industry. The company has successfully completed 6 deals and raised a total of KRW 1.5 billion in its latest funding round, Series B, from UTC Investment on November 13, 2024. This funding represents the total amount raised by the company.Solmedix specializes in the development and commercialization of innovative medical devices, focusing on surgical solutions and drug delivery systems. Their core product offerings include the Quratus Suture Anchor System, a biocomposite device designed for secure fixation during surgical procedures; the Lightin Light Guided Injection System, which utilizes a 625 nm LED for precision in percutaneous injections; and the Hemoclose Hemostatic Valve, engineered for effective blood loss management during complex surgeries. These products are developed with input from healthcare professionals, ensuring they meet the practical needs of the surgical environment. Solmedix serves a diverse client base that includes hospitals, surgical centers, and medical practitioners across South Korea and potentially in international markets, though specific geographical sales details beyond South Korea are not disclosed.The company's revenue generation model revolves around business-to-business transactions, particularly partnerships with healthcare providers and organizations. Solmedix utilizes a collaborative MOSAIC platform that facilitates revenue sharing arrangements with partners, enhancing the commercialization of their medical device innovations. Their flagship products, such as the Quratus Suture Anchor, generate revenue through direct sales to medical institutions, where pricing structures are determined based on the specific needs and agreements established with clients. Revenue streams are supported by ongoing collaborations that involve joint ventures, with the potential for recurring income from future product developments and enhancements driven by the company’s commitment to innovation in the medical device space.In November 2024, Solmedix raised KRW 1.5 billion in Series B funding led by UTC Investment. The company is currently focused on designing new products to enhance their offerings, as well as exploring expansion into international markets. Specific regions for expansion have not been disclosed, but the company aims to leverage its recent funding to support these initiatives, including the development of additional surgical solutions and drug delivery systems.

## Funding rounds

- Series B, Nov 13, 2024, $1.1M — UTC Investment
- Series A, Jul 12, 2021, $4.8M — InterVest, UTC Investment, Union Investment Partners, Magna Investment, STIC Ventures, Stonebridge Ventures

## Investors

- InterVest (https://capitalatlas.ai/funds/intervest) — Series A
- UTC Investment (https://capitalatlas.ai/funds/utc-investment) — Series A, Series B
- Union Investment Partners (https://capitalatlas.ai/funds/union-investment-partners) — Series A
- Magna Investment (https://capitalatlas.ai/funds/magna-investment) — Series A
- STIC Ventures (https://capitalatlas.ai/funds/stic-ventures) — Series A
- Stonebridge Ventures — Series A