VentureBlick Raises $2.6M for Two Health Startups, Introduces Medtech Super Incubator

The global healthcare venture platform VentureBlick has secured US$2.6 million in funding for its first two startups. The venture’s goal is to validate, support, and invest in early-stage healthcare startups.

VentureBlick, led by CEO Hee-yeol Lee, is a specialized healthcare platform company that recently concluded its startup support program. The program assisted two startups, which emerged as finalists in the Healthcare Startup Search held in November.

Outperforming expectations, VentureBlick has raised US$1.6 million in funding for NousQ, a Singaporean startup that has developed a smart robotic handheld device for otitis media surgery. This achievement exceeded the initial funding goal by 60%.

NousQ’s track record, including its victories in renowned global healthcare competitions like the MedTech Innovator APAC Challenge 2022, further strengthened investor interest and support. The second startup deal secured by VentureBlick involved a Chinese healthcare startup, which received over US$1 million in funding.

Both startups underwent a three-step evaluation process involving comprehensive assessments by medical and industry experts worldwide before their inclusion on the VentureBlick platform. The vetting process was curated to ensure that only the most promising and high-potential startups were considered for investment.

Expressing her excitement, Dr. Lynne Lim, Founder & CEO of NousQ, shared, “We are thrilled to have surpassed our fundraising target on the VentureBlick platform. This US$1.6 million bridge funding is a significant step towards our ultimate fundraising goal of US$5.5 million for our current ongoing Series A fund raise. Getting such positive responses from fellow doctors and investors worldwide means a lot to our team. Equally exciting is the opportunity to tap into VentureBlick’s extensive healthcare expertise and resources.”

Starting in the latter part of this year, VentureBlick will enhance its global venture incubation program with a strong focus on the medtech sector. The company will provide tailored incubation strategies to support each startup’s unique needs, offering a comprehensive range of services.

In September 2023, VentureBlick will officially launch its Super Incubator, an initiative to streamline the entire startup journey. From initial ideation and testing to venture building and market penetration, the Super Incubator will provide a holistic approach.

It will encompass aspects such as product demand validation, fundraising support, design and manufacturing, healthcare partnerships, product trials and assessments, health economics and reimbursement strategies, as well as market analysis and access.

Additionally, VentureBlick is introducing its medical advisory business as part of the new model. This service will offer expertise in evaluating investments or mergers and acquisitions from a medical standpoint on behalf of corporate ventures, venture capitalists, and government entities.

Leveraging the extensive network of over 1,000 individually screened and vetted advisors from more than 50 countries and 30 specialty areas, VentureBlick’s advisory pool is set to expand further to 3,000 advisors by the end of 2023, strengthening its ability to provide expert guidance and insights.

“Medtech has a unique structure with more complex stakeholders than any other industry, which is why we are breaking the mold and strengthening our differentiated incubation strategy,” said Hee-yeol Lee, CEO of VentureBlock. “Through our expertise and differentiated services, we will support startups’ compressed growth by providing customized solutions from development to launch,” he added.