Monitor Corporation, a Korea-based AI medical imaging solutions company, has raised ₩7 billion in Series B funding, with participation from UTC Investment, Premier Partners, and HB Investment.

Founded in 2018 by radiology professors at Seoul National University Bundang Hospital, Monitor Corporation is a startup with deep expertise in both medical practice and AI technology. Shortly after its founding, the company gained recognition for its technological capabilities, securing seed funding from Naver D2SF. In 2021, it raised Series A funding from Premier Partners.

Monitor Corporation’s flagship product, LuCAS-Plus, is an AI-driven chest CT lung cancer diagnosis solution and the only Class 3 medical device in Korea capable of detecting lung cancer and assessing its condition.

The company’s LuCAS-ABS is an automated breast ultrasound cancer detection solution, certified as a Class 2 medical device by the Korean FDA. It has received positive market feedback for its high compatibility with GE Healthcare’s automated breast ultrasound system, Invenia ABUS.

Currently, Monitor Corporation’s solutions are used in over 100 hospitals in Korea, producing tangible results in clinical practice. With this latest funding, the company is set to expand globally, focusing on markets such as Japan, the U.S., Europe, and Singapore.

CEO Lee Kyung-Jun commented, “Despite challenging times for investment, we managed to attract strong interest from investors thanks to the product competitiveness and business results we’ve built up. We’re now focused on becoming a globally competitive medical AI company.”

Hyun-Moo Cho, Managing Director at Premier Partners, added, “Monitor Corporation is a leader in AI diagnostic support solutions, perfectly addressing the needs of the medical field. We expect rapid international expansion through close partnerships with global medical device vendors, while further growing domestic sales through advanced medical technologies.”