South Korean startup HoneyNaps, which offers AI for diagnosing sleep disorders, raised $11.6 million in Series B funding. The funds will help expand its presence in the US market, where the sleep technology sector is valued at $9 billion and expected to grow to $39 billion by 2033. HoneyNaps received FDA approval for its SOMNUM software, which uses AI to analyze bio-signal data for disease diagnosis. They plan to expand their AI application to other medical conditions like cardiovascular disease and dementia. In a similar vein, Australian company ResApp and Japanese companies are also using AI to study and diagnose sleep disorders.
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Sleep diagnosis AI startup HoneyNaps bags $12M Series B funding
