Japanese Healthcare Startup Ubie, Inc. Closes Extended Series C Round at $45 million, Establishes Subsidiary in NY

Ubie, Inc., a Tokyo-based healthcare startup, announced on December 8 that it has closed its Series C round at $45 million by raising $19 million in an extension round. The new funding will enable Ubie to accelerate its growth and strengthen its presence in the U.S., following strong interest and traction in that market. To date, Ubie has raised $76 million in total.

Image: https://kyodonewsprwire.jp/prwfile/release/M107009/202212010702/_prw_PI1fl_p06nDF09.png

The extension round money was raised from SOGO MEDICAL CO., LTD., AAIC Investment Pte. Ltd., Japan Impact Investment II Limited Partnership, and Rakuten Capital, while loans extended from the Shoko Chukin Bank, Ltd., Japan Finance Corporation, and Mizuho Bank, Ltd.

Previous press release about Series C: https://company.ubiehealth.com/press-release/press-22082022

Purpose of Series C funding

Ubie, with the mission of "guiding people to appropriate medical care with technology," is one of the few companies in the world having direct contact with both patients and medical institutions. With AI as its core technology, the company provides AI symptom checker Ubie ( https://ubiehealth.com/ ) as the gateway to medical care. It will also focus on expanding its business to the U.S. in order to apply the technology it has developed in Japan, one of the leading countries in the medical field.

Subsidiary set up in NY

Leveraging the Series C funding, Ubie established a local subsidiary in New York on October 4, 2022. This is the second overseas corporation following Singapore. The decision follows the fact that the number of users has been increasing steadily since the release of the AI symptom checker in April 2022 in the U.S. The establishment of the local subsidiary will further strengthen the partnership with U.S. pharmaceutical companies, as well as the products, including hiring local people in the U.S.

Address: 1460 Broadway, New York, NY 10036

Participation of new board member

Ryusuke Shigetomi, Chairman and Representative Director of Blackstone Group Japan, was appointed as a Ubie board member as an outside director to strengthen the company’s management structure and governance.

About Ryusuke Shigetomi: In 1984, he graduated from the University of Tokyo, Faculty of Law, and joined Industrial Bank of Japan. In 2000, he joined Morgan Stanley, where he was responsible for the Telecom, Media, and Technology Group in Japan and assisted in the execution of various large-scale financing projects and M&A transactions for 22 years. In 2021, he joined the Blackstone Group, where he served as Chairman and Representative Director and was involved in investment and fundraising activities in Japan.