South Korean healthtech startup Exosystems develops an AI wearable device to help 1.7 billion people suffering from musculoskeletal disorders; raises $3.9M

Musculoskeletal conditions are the leading contributor to disability for billions around the world, with low back pain being the single leading cause of disability in 160 countries. According to data from the World Health Organization, there are approximately 1.71 billion people who have musculoskeletal conditions worldwide.

Among people with musculoskeletal disorders, the organization said that low back pain causes the highest burden with a prevalence of 568 million people. Musculoskeletal condition is severe in that it significantly limits mobility and dexterity, leading to early retirement from work, lower levels of well-being, and reduced ability to participate in society. Now, one startup is on a mission to leverage artificial intelligence-based digital care to help billions of people suffering from musculoskeletal disorders

Enter Exosystems, a South Korea-based healthtech startup that provides an IoT rehabilitation solution to help people suffering from physical limits caused by accidents and diseases. Exosystems’ digital care solution consists of a wearable medical device and connected user app, which enables patients undergoing neurorehabilitation or suffering from musculoskeletal disorders to monitor their health and receive appropriate treatment.

Today, Exosystems announced it has raised $3.9M in Series A funding to expand clinical & technical capabilities to further develop the company’s technology and overseas business. The round, which brings the total funding raised by the company to $4.5 million, was backed by SBI Investment, Laguna Investment, and Korea Technology Finance Corporation.

Founded in 2017 by Hooman Lee and Jason K, Exosystems’ rehabilitation solution provides optimized exercise program (contents) to patients through analyzing user rehabilitation activity data. It also provides entertaining rehabilitation exercises to encourage the patients in their quick recovery. Its wearable sensor analyzes digital biomarkers related to musculoskeletal disorders and, through digital treatment software complete with behavioral intervention components, offers recommendations on exercise programs or electrical stimulation therapy.

The technology of Exosystems has been verified through clinical research conducted in cooperation with the Seoul National University Bundang Hospital and other prominent Korean medical institutions. The device and its technologies have also been approved by the Korean Ministry of Food and Drug Safety and the CE-MDD (Medical Devices Directive) in Europe.

Exosystems’ technology and growth potential were recently recognized when it was selected by a government-funded R&D project worth USD 5 million. The company’s digital healthcare device is now covered by public health insurance of the Korean Ministry of Food and Drug Safety.

“Exosystems is a company with both AI software and hardware technology, and it makes products in the digital healthcare field that can be commercialized,” said SBI Investment Team Lead Lee Joo-hyuk. He added, “Providing continuous monitoring and treatment outside the hospital is a critical factor in future medical care, and we expect Exosystems to bring about digital innovation not only to musculoskeletal healthcare but to all aspects of people’s health and lives.”

“Exosystems will be able to secure competitiveness in the overseas markets because of its unique technology that analyzes digital biomarkers and provides behavioral intervention protocol based on scientific evidence,” said Exosystems CEO Lee Hoo-man.