PanopticAI Secures Fundraising Co-Led by Alibaba Hong Kong Entrepreneurs Fund and Gobi Partners GBA to Digitise Remote Healthcare
PanopticAI, Hong Kong’s leading health and wellness monitoring startup, announced a deal closing on a seed-round funding co-led by Alibaba Hong Kong Entrepreneurs Fund (AEF) and Gobi Partners GBA (Gobi GBA), with participation from the HKUST Entrepreneurship Fund (E-Fund) and other renowned investors, marking a promising move in the digital healthcare industry.
Founded by researchers and scientists from The Hong Kong University of Science and Technology, PanopticAI is innovating next-generation digital health solutions to provide users with a holistic analysis of their health. Vitals, the company’s camera-based health and wellness monitoring solution, empowers everyone to take charge of their health – especially the lower income brackets and other vulnerable segments across the globe – with affordable and quality health care services that can be easily accessed through our everyday devices.
This round of funding will be used to accelerate the company’s regulatory strategy and solidify its strategic position in Hong Kong, the Greater Bay Area, and other emerging markets. PanopticAI continues to work with clients across various industries such as telemedicine, corporate wellness, construction, insurance, fitness, mental health, and more. The PanopticAI team has collaborated with Gleneagles Hospital Hong Kong to integrate its technology into the hospital’s patient mobile app, which now allows users to measure their vital signs simply by scanning their faces with a smartphone camera. In addition, Mannings, Hong Kong’s largest beauty retailer, is utilising PanopticAI’s technology to provide innovative health consultation services to enable smarter and healthier workplaces. PanopticAI is also exploring partnerships with international insurance companies to provide new solutions for straight-through processing, dynamic underwriting and enhancing customer experience.
“PanopticAI’s mission is to make remote healthcare diagnostically accurate, accessible and scalable with Vitals, our AI-based, hardware-agnostic health monitoring software suite. Designed to be a low-cost, low-barrier, future-forward solution for businesses and consumers, Vitals revolutionises how our health is measured, interpreted and managed. With the support we gained from AEF, Gobi GBA, E-Fund and our new investors, our goal is to be universally trusted as the go-to option by businesses as well as consumers looking to reach their full health potential.” said Kyle Wong, CEO & Co-founder of PanopticAI.
Cindy Chow, Executive Director of Alibaba Hong Kong Entrepreneurs Fund said, “The use of AI is becoming ubiquitous in many real-world applications, and the healthcare industry is no exception. We believe that PanopticAI would be able to leverage its contactless health monitoring technology to deliver scalable and quality care to the public.”
Chibo Tang, Managing Partner of Gobi Partners GBA, said, “The digital healthcare industry is in need for disruptive innovation. We believe PanopticAI’s technology and scientific breakthroughs have the potential to create significant impact in the future of remote healthcare, and strengthen global health risk management.”