Team Elysium (CEO Kim Won-jin, Park Eun-shik) announced on the twenty sixth that it had attracted pre-series A investment.

The investment was led by Strong Ventures, a US-based enterprise capital firm, and Digital Healthcare Partners (DHP), an investment company specializing in digital healthcare startups, participated. The dimensions of the investment was not disclosed.

It’s a follow-up investment after 5 years since receiving seed investment from Primer in May 2018.

Team Elysium develops and commercializes solutions comparable to diagnosis and treatment of musculoskeletal disorders.

In existing clinical settings, inaccurate conventional tools comparable to a protractor and a tape measure were used to diagnose musculoskeletal disorders. Now, based on artificial intelligence (AI) and computer vision technology that quantifies and analyzes 2D and 3D images, it’s leading the digital transformation of clinical sites.

Team Elysium currently has three kinds of medical devices approved by the Ministry of Food and Drug Safety. Greater than 200 medical institutions, including major tertiary hospitals, are using it for patient care after actual purchase. By the top of this 12 months, the variety of institutions introducing medical devices is anticipated to succeed in 300 to 400.

Based on this investment, the corporate plans to deal with developing digital treatment devices for patients with musculoskeletal disorders together with expanding the product lineup for musculoskeletal diagnosis solutions. The digital treatment device goals to develop a digital treatment device for patients with musculoskeletal disorders optimized for the domestic environment by referring to the cases of Hinge Health and Kaia Health within the US.

“The importance of diagnosing and treating musculoskeletal disorders is increasing day-to-day,” said Kim Won-jin, CEO of Team Elysium.

Choi Yoon-seop, CEO of Digital Healthcare Partners, said, “Team Elysium highly appreciated that it had not only excellent AI technology, but in addition business capabilities.” We are going to do our greatest to support you.”

Reporter Jang Se-min semim99@aitimes.com