Sleep analysis AI startup HoneyNaps baggage $12M Collection B funding

HoneyNaps, a startup from South Korea that gives AI for the analysis of sleep issues, has raised $11.6 million from a latest Collection B funding spherical.

WHAT IT’S FOR

In line with a press assertion, its contemporary funds will probably be used to cement its presence in the US market. At current, the sleep expertise sector there’s valued at $9 billion. It’s projected to develop to $39 billion by 2033, pushed by the growing consciousness of sleep well being and the mixing of sleep expertise gadgets into healthcare techniques. HoneyNaps is already working within the nation from its Boston workplace. 

Final 12 months, HoneyNaps acquired the US Meals and Drug Administration’s approval for its flagship providing, SOMNUM. The software program makes use of AI to analyse bio-signal knowledge which can be culled throughout sleep and to offer illness analysis inside 5 minutes. 

In a latest assertion, a HoneyNaps finance official revealed that they plan to develop the appliance of their AI to different medical circumstances, “similar to heart problems, dementia, and Parkinson’s illness.”

Since its founding in 2015, it has amassed $16.2 million in funding. 

MARKET SNAPSHOT

In 2022, Australian firm ResApp additionally acquired the US FDA’s 510(ok) clearance for its cell sleep apnoea screening utility, SleepCheckRx. The prescription-only cell software program was an at-home check for adults prone to average to extreme obstructive sleep apnoea. The app is now not marketed to the general public following ResApp’s acquisition by Pfizer. 

Final 12 months, two Japanese corporations, 4 H and Aculys Pharma, began collaborating to make use of AI and different strategies of study to achieve a deeper understanding of sleep issues, notably narcolepsy and extreme daytime sleepiness related to obstructive sleep apnoea. In addition they intention to determine digital biomarkers of such issues.