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Olmade, a startup developing non-invasive diagnostic technology that identifies diseases without physical damage such as blood draws or injections, announced on the 12th that it successfully secured its first round of Pre-Series A investment from Kookmin University Technology Holdings and Minetabrook Ventures. The specific investment amount remains undisclosed. Olmade plans to secure additional funding in this round.
Olmade is developing a next-generation in vitro diagnostic platform based on the luminescent signals of quantum dots. Quantum dots are ultra-fine semiconductor particles that emit various colors depending on their particle size. Olmade combines these with bio-materials to create high-sensitivity diagnostic technology and precision sensing systems.
Kim Ji-cheol and Ku Tae-hoon, co-representatives of Minetabrook Ventures, stated, "Olmade is a deep-tech biotech company equipped with both quantum dot-based high-sensitivity diagnostic technology and market potential in the non-invasive field." They added, "Considering its high growth potential in the domestic and international in vitro diagnostic markets, we proceeded with follow-up investments."
They further added, "Following this investment, we will continue to provide multi-faceted support for Olmade's subsequent growth, including recommending it for R&D (research and development) support programs such as TIPS."
Through this investment round, Olmade plans to accelerate the commercialization of its key product lines. Its flagship products, rapid diagnostic kits for inflammatory bowel disease and colorectal cancer, were exhibited at the 'K-Medical Device Exhibition' held in Ho Chi Minh City, Vietnam, last June, where they received positive responses from local buyers. The company also plans to showcase them at Singapore's 'Medical Fair Asia' later this year.
Oh Tak-gyu, CEO of Olmade, said, "Building on the proven product demand in the point-of-care testing market and the positive response from overseas buyers, we will secure additional investments in the Pre-Series A round." He continued, "We aim to complete the commercialization of our quantum dot-based diagnostic platform as soon as possible and achieve results globally."
[MoneyToday Startup Media Platform Unicorn Factory]
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