Tokyo-based health and wellness startup Bisu has raised $3.2 million in a seed funding round led by South Korean biotechnology investor QUAD. The investing event was also joined by ASICS Ventures Corporation, 15th Rock Ventures, Pacifico Investments and SOSV.
WHAT IT'S FOR
Its seed funding will be used to formally bring into market its portable "home health lab" called Bisu Body Coach. The device provides personalised nutrition and lifestyle advice through urine and saliva testing.
Bisu Body Coach consists of a disposable test stick and a reader, which syncs with a companion smartphone app. The test stick is based on a "lab-on-chip" or microfluidic technology and delivers findings within two minutes.
Once the findings are processed, the app renders feedback on key nutrition indicators, such as hydration, minerals and vitamins. It also provides personalised recommendations based on their goals, dietary preferences, activity, sleep and weight.
Right now, the home health lab is still in beta testing with additional test sticks on training intensity, hormones, and pet and baby health in the pipeline.
Meanwhile, Bisu said it will collaborate with sports equipment maker ASICS around initiatives that "enhance personal health and athletic performance".
MARKET SNAPSHOT
Bisu is entering a market that is so far dominated by players offering solutions for COVID-19 and fertility health. This year saw AI health startup MediCircle and Malaysian telemedicine provider DOC2US introduce their own rapid home-use test kits for COVID-19. Taiwan-based iXensor and Inito, which is based in India, are among providers of at-home solutions to fertility health in Asia-Pacific.
It was projected by Fior Markets that the global home diagnostics market would rise to $6.53 billion by 2025 from $4.78 billion in 2017, growing at a 3.98% CAGR.
ON THE RECORD
"This funding is a major vote of confidence from a group of investors who are both tech savvy, consumer focused and globally minded," Bisu co-founder and CEO Daniel Maggs said.
Commenting on their partnership with ASICS, Wojciech Bula, co-founder and CTO of Bisu said: "ASICS shares our passion for making beautiful yet scientifically rigorous products in the spirit of Japanese craftsmanship, while also being a modern, globally-recognized brand."
"We decided to invest in Bisu because we believe its home health lab technology, which provides affordable access to actionable health data, is very innovative and has huge potential," Hiroaki Kageyama, president of ASICS Ventures, the investment arm of ASICS Corporation, also shared.
