South Korean bio-health startup Orange Biomed announced on the 10th that it has raised approximately KRW 3 billion (about USD 2.3 million) in its Series A1 funding round, bringing its total funding to over KRW 8 billion (about USD 6.2 million).

Orange Biomed is the developer of “OBM rapid A1c,” a portable glycated hemoglobin (HbA1c) measuring device that uses microfluidic technology. HbA1c is a crucial indicator for diagnosing and managing diabetes, reflecting blood sugar control over 2-3 months and predicting the risk of diabetic complications. The company’s innovative technology and clinical research outcomes were highly valued in this funding round.

Orange Biomed’s technology has consistently gained recognition both domestically and internationally. In October, the company received the KHF Innovation Award (President of the Korean Hospital Association Award). In November, it was featured in the Startup Showcase at the Diabetes Technology Conference in San Francisco and participated in the Startup Park at MEDICA, the world’s largest medical device trade fair in Germany, attracting global interest. The company is also preparing for its U.S. market entry by participating in the prestigious Eureka Park at CES 2025.

CEO Woonghyun Ko said, “This funding allows us to focus on commercializing our product and obtaining FDA approval in the U.S. We are fully committed to preparing for a successful U.S. market entry.”

Co-CEO Yesul Park emphasized, “The American Diabetes Association (ADA) recently updated its 2024 guidelines to prioritize HbA1c testing for diabetes diagnosis, highlighting the growing importance of HbA1c testing in diabetes management.”

With this funding, Orange Biomed plans to refine its U.S. market entry strategy and position itself as a leading company in the HbA1c testing market for diabetes management.