HoneyNaps, a South Korean startup that gives synthetic intelligence for diagnosing sleep problems, raised $11.6 million in a latest Sequence B spherical of funding.
its objective
In accordance with a press assertion, its new funds will likely be used to strengthen its place within the US market. The sleep expertise trade there may be presently price $9 billion. anticipated This quantity will develop to $39 billion by 2033, pushed by rising consciousness of sleep well being and the mixing of sleep expertise units into the healthcare system. HoneyNaps already has a presence within the nation by means of its Boston workplace.
Final 12 months, HoneyNaps’ flagship product SOMNUM obtained approval from the U.S. Meals and Drug Administration. The software program makes use of synthetic intelligence to investigate biosignal information collected throughout sleep and supply illness prognosis inside 5 minutes.
A HoneyNaps monetary official revealed in a latest assertion that they plan to develop the applying of synthetic intelligence to different medical circumstances “reminiscent of heart problems, dementia and Parkinson’s illness.”
Since its founding in 2015, it has gathered $16.2 million in investments.
market Overview
In 2022, Australian firm ResApp’s cellular sleep apnea screening app SleepCheckRx additionally obtained 510(okay) clearance from the US FDA. The prescription-only cellular app is a house take a look at for adults in danger for average to extreme obstructive sleep apnea. The app is now not on the market to the general public, as follows ResApp was acquired by Pfizer.
Final 12 months, two Japanese firms, 4 H and Aculys Pharma have begun a collaboration to make use of synthetic intelligence and different analytical strategies to realize a deeper understanding of sleep problems, particularly narcolepsy and extreme daytime sleepiness related to obstructive sleep apnea. In addition they goal to establish digital biomarkers of such ailments.
