Kompass Diagnostics, a MedTech startup based in Chicago, has raised KRW 2.2 billion in seed funding from Bass Ventures, Kakao Ventures, and Digital Healthcare Partners. 

Kompass is dedicated to revolutionizing the medical system with its innovative diagnostic devices that allow easy blood sampling from the fingertip for everyone. The company’s proprietary technology uses semiconductor components to analyze specific enzyme reactions, enabling comprehensive diagnostics akin to those of large-scale professional labs.

Kompass is currently developing a compact blood diagnostic device that fits in the palm of your hand. Their first product targets the infertility sector, offering a self-testing hormone kit that delivers results in just five minutes, significantly improving convenience for both patients and healthcare providers. The necessity for such innovations is rising globally as more couples require fertility treatments but face challenges due to high costs, limited access to clinics, and an inadequate supply of specialists. In the U.S., approximately 25 million women of childbearing age live in regions without infertility clinics.

Kompass is led by CEO Mingoo Kim, a Stanford MBA graduate, with CTO Hyouarm Joung and CSO Hyunjune Jang. The team’s extensive experience in commercializing diagnostic technologies and their expertise in high-sensitivity biosensors position them uniquely to disrupt the diagnostics market. Dongyeon Choi of Bass Ventures lauded the team for their potential to introduce significant innovations in addressing the global challenge of infertility.

Following this investment, Kompass plans to conduct clinical trials and initiate pilot projects with infertility clinics. The company aims to extend its platform to manage not just infertility but also other medical areas such as chronic disease management.

CEO Mingoo Kim commented, “Regular hormone tests required for treatments like IVF impose significant burdens on both understaffed clinics and patients needing to travel great distances. Our self-administered hormone tests will not only enhance convenience and reduce costs but also enable clinics to treat more patients efficiently. We are committed to decentralizing medical services with our portable diagnostic technology and responding effectively to the increasing healthcare demands of an aging population.”