[Money Today] Cellico, developing electronic eyes for the visually impaired, attracts pre-Series A investment

 

Celico, a social venture company developing electronic medical devices (hereinafter referred to as electronic eyes) for the visually impaired, announced on the 25th that it had attracted pre-Series A investment. Yuanta Investment solely participated in this investment, and the investment amount is undisclosed.

 

The electronic eye being developed by Celico is a device that inserts an image sensor chip that acts as a camera into the layer of optic cells damaged by retinitis pigmentosa or macular degeneration. The inserted device has the function of detecting light and converting it into bioelectrical signals, enabling the restoration of vision for visually impaired patients.

 

The corrected visual acuity of Celico’s electronic eye device is aimed at a maximum of 0.1 or higher. To this end, the company explained that it is developing cutting-edge convergence technology that applies various engineering technologies such as augmented reality, semiconductors, IT, and materials engineering.

 

Celico has secured image sensor design technology and biocompatible packaging technology to replace photocells, and is verifying safety through animal testing. It is expected that once augmented reality technology for vision correction is completed, it will contribute to the independent living of visually impaired patients.

 

CEO Kim Jeong-seok said, “Through this investment in Yuanta Investment, we have gained momentum in developing electronic eye products that are integrated with augmented reality. We will focus on steadily recruiting talent and developing technology to grow into a socially meaningful social venture company.” He said.

 

Park Sang-hyun, director of Yuanta Investment, who executed this investment, said, “I agree with the business purpose of solving the social problem of visual impairment with Cellico’s cutting-edge technology, and it is a contribution to strengthening the technological competitiveness of the domestic electropharmaceutical field through local production of materials and components. “So we made this investment,” he said.

 

Meanwhile, Selico, now in its third year of business, owns 27 intellectual property rights. In addition, starting with the selection of the ‘TIPS Program’ in 2021, △ the grand prize at the ‘New Gyeonggi Startup Contest’ hosted by the Gyeonggi Provincial Office △ acquisition of ‘Technology Guarantee Fund Social Venture Company Identification’ certification △ selection of ‘Samsung Electronics C Lab Outside’ in 2022 △ Gyeonggi-do was selected as a WINGS (private investment-linked technology startup support project). Celico is a company located in the Pangyo Startup Zone operated by the Startup Promotion Agency and the Gyeonggi Creative Economy Innovation Center.

 

Source: Money Today, https://news.mt.co.kr/mtview.php?no=2022082518215775478

 

2022-12-21