Hong Kong-based health tech startup PanopticAI has raised undisclosed seed funding from a round co-led by Alibaba Hong Kong Entrepreneurs Fund and Gobi Partners. The round was also participated by HKUST Entrepreneurship Fund and other investors.

WHAT IT DOES

Founded by researchers from The Hong Kong University of Science and Technology, Panoptic AI develops digital health solutions that provide holistic health analysis.

Its flagship product, Vitals, is a low-cost and hardware-agnostic contactless vitals measurement application. It captures via camera the subtle changes in the colour of a user's skin, which is then processed through AI and signal processing to come up with comprehensive and accurate vital signs reading within 30 seconds. Vitals has been applied in various industries, including telemedicine, corporate wellness, construction, insurance, fitness, and mental health.

WHAT IT'S FOR

Based on a press statement, PanopticAI will use its seed funding to accelerate its acquisition of regulatory approvals and further cement its presence across China's Greater Bay Area and other emerging markets. Currently, it has tie-ups with Gleneagles Hospital Hong Kong for remote health monitoring and local beauty retailer Mannings for smart health consultation services.

It is also looking to explore partnerships with global insurance firms to offer new solutions for straight-through processing, dynamic underwriting, and enhancing customer experience.

MARKET SNAPSHOT

Last year in April, HealthBeats, a health tech startup from Singapore, bagged $3 million in seed funding to bring its remote health monitoring solution to international markets.

Another health monitoring-focused startup, Sky Labs from South Korea, has recently raised $20 million in a Series B funding round to boost its commercialisation in the United States and the United Kingdom and expand its clinical research.