Country for PR: Japan
Contributor: Kyodo News JBN
Thursday, December 08 2022 - 19:00
Japanese Healthcare Startup Ubie, Inc. Closes Extended Series C Round at $45 million, Establishes Subsidiary in NY
TOKYO, Dec. 8, 2022 /Kyodo JBN-AsiaNet/ --

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.


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:

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 ( ) 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.

Source: Ubie, Inc.