SumBit AI Secures 5 Billion KRW Seed Investment from Altos Ventures

Medical AI Company... Kakao Brain Healthcare Division Staff Lead
Initial Radiology Report Generation Solution

Medical AI company SumbitAI announced on the 5th that it has secured seed investment from Altos Ventures. The investment amount is approximately 5 billion KRW (3.6 million USD), with Altos Ventures participating solely.

SumbitAI was founded by a team that developed a chest X-ray reading assistance AI business at Kakao Brain. The co-founders are CEO Bae Ung, who was the Chief Healthcare Officer (CHO) at Kakao Brain, and CTO Kim Sehun, who was in charge of image generation research. The team is composed of personnel from Kakao Brain's healthcare business division.

SumbitAI is developing 'AIRead-CXR,' an AI-based draft report generation solution for radiologists. This generative AI-based solution provides personalized draft reports on various findings to be detected in chest X-rays (CXR), helping radiologists read images faster and more accurately.

CEO Bae Ung of SumbitAI said, “As the demand for image reading services is rapidly increasing worldwide, exceeding the supply of radiology specialists, not only in Korea, we will do our best to establish ourselves as an indispensable medical AI service for both medical professionals and patients by securing talent and expanding service provision areas.”