Korea’s Selta Square Raises KRW 9.2 Billion to Enhance Full-Cycle Drug Monitoring with AI

Selta Square, a Korea-based AI technology company specializing in full-cycle drug monitoring solutions, has raised KRW 9.2 billion (approximately USD 6.8 million) in a Series A funding round. The round saw participation from notable investors including KB Investment, Korea Investment Partners, Yuanta Investment, SJ Investment Partners, and Genaxis

This investment reflects the growing necessity for professional commercialization of AI and digital solutions in the pharmaceutical and biotech markets, highlighting the industry’s demand for innovative SaaS-based AI technologies.

Selta Square’s AI-powered drug monitoring solutions are designed to enhance productivity and accuracy throughout the entire drug monitoring cycle, establishing the company as a leader in this field. Their offerings are highly regarded in the pharmaceutical industry, propelling digital transformation efforts for major domestic pharmaceutical firms.

Key products from Selta Square include SELTA-WAVE, an automation solution for safety data entry; SELTA-LITUS, an automated literature search tool; SELTA-OCTO, an AI-based MedDRA coding system; and SELTA-TUBE, an automated solution for analysis and tables needed for product renewals. 

These solutions integrate the latest AI technologies to significantly improve the workflow efficiencies and data quality for pharmacovigilance professionals. Notably, SELTA-WAVE is slated for an early 2025 release of an upgraded version that incorporates substantial customer feedback.

Furthermore, Selta Square’s expertise in both drug monitoring and IT is recognized through strategic partnerships, like with Oracle Argus for global Safety DBs, and achievements such as the SMEs and Startups Minister’s Award at the Invention Patent Exhibition for its AI QA technology that minimizes hallucination effects in AI models.

CEO Shin Min-kyung stated, “This investment validates our technological and market prowess, setting the stage for accelerated global market penetration and enhanced application of AI in the pharmaceutical and biotech sectors.”

An investor remarked, “Selta Square’s proven AI technology uniquely innovates complex drug monitoring processes, creating a distinct competitive edge and promising substantial growth in the global pharmaceutical and biotech markets.”

The funds will be strategically utilized to enhance Selta Square’s core technologies and expand its global infrastructure. The company aims to develop an integrated platform facilitating organic collaboration between AI technologies and pharmaceutical experts, leading digital transformation across drug monitoring, new drug development, and real-world data application in the industry.

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