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§ Public · Seoul, Seoul-t'ukpyolsi, South Korea
Lunit is a technology company.
Lunit develops artificial intelligence-powered software for cancer diagnostics and therapeutics, leveraging a platform-based approach. Their modular AI ecosystem integrates imaging, pathology, and biomarker analysis, providing solutions for AI-assisted image interpretation and digital pathology. Their offerings, such as Lunit INSIGHT and Lunit SCOPE, aim to enhance diagnostic precision and support therapeutic decision-making.
The company was founded in August 2013 by a team of six, including Anthony Paek and Yu Dong-geun. These founders were graduate students from the Korea Advanced Institute of Science and Technology (KAIST) with backgrounds in AI research. They identified the significant potential for deep learning to transform medical imaging and diagnostics, leading them to establish Lunit with a focus on applying advanced AI to cancer care.
Lunit's products are utilized by medical institutions, including hospitals, and biopharma leaders worldwide. The company's vision is to advance a more intelligent standard of cancer care by applying AI-driven diagnostics and biomarker analysis. This approach aims to improve patient outcomes through earlier and more accurate disease detection and personalized treatment strategies.
Lunit has raised $421.7M across 5 funding rounds.
Lunit has raised $421.7M in total across 5 funding rounds.
Lunit has raised $421.7M across 5 funding rounds. Most recently, it raised $123.0M Other Equity in May 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| May 7, 2024 | $123M Venture Round | — | — | Announced |
| Aug 24, 2023 | $150.7M Venture Round | — | — | Announced |
| Nov 25, 2021 | $61M Venture Round | — | Brightedge Ventures, Casdin Capital, Guardant Health, HealthQuest Capital, NSG Ventures, Tybourne Capital Management | Announced |
| Nov 1, 2021 | $61M Series U | — | A7V, Alpine Ventures, Goodwater Capital, HealthQuest Capital, NextGen Venture Partners, Ontario Teachers' Pension Plan, Brightedge Ventures, Casdin Capital, Guardant Health, NSG Ventures, Tybourne Capital Management | Announced |
| Aug 31, 2021 | $26M Series C | Guardant Health, Shinhan Securities | IMM Investment, Intervest, Kakao Ventures, Legend Capital | Announced |
Lunit has raised $421.7M in total across 5 funding rounds.
Lunit's investors include BrightEdge Ventures, Casdin Capital, Guardant Health, HealthQuest Capital, NSG Ventures, Tybourne Capital Management, A7V, Alpine Ventures, Goodwater Capital, NextGen Venture Partners, Ontario Teachers' Pension Plan, Shinhan Securities.
Lunit is a Seoul-based medical AI company developing software for cancer screening, diagnostics, and precision oncology using deep learning technology.[1][2][3] Its core products include AI solutions for analyzing medical images like chest X-rays, mammograms, and digital breast tomosynthesis, as well as biomarkers for immunotherapy, serving over 10,000 sites in 65+ countries including partnerships with GE Healthcare, Fujifilm, Philips, and Guardant Health.[1][3][4][5] Lunit addresses radiologist shortages and diagnostic inconsistencies by transforming complex imaging, pathology, and biomarker data into actionable insights, improving early detection and treatment decisions for healthcare providers and patients worldwide.[3][5] The company has shown strong growth momentum, with Q1 revenue reaching 19.2 billion won (up 274% year-on-year), driven largely by overseas sales in regions like the Middle East.[2]
Founded in 2013 in Seoul, South Korea, Lunit emerged as a first-generation medical AI pioneer, backed by investors like SoftBank.[2][6] The company's idea stemmed from leveraging cutting-edge deep learning to tackle inefficiencies in cancer diagnostics, particularly in imaging analysis where human error and workload pressures limit accuracy.[1][5] Early traction came from developing AI for chest X-rays and mammography, leading to FDA clearance, CE marking under MDR, and rapid global adoption at over 1,000 medical sites initially, expanding to 10,000+ today through partnerships with healthcare leaders.[1][5] Pivotal moments include filing 92 patents in machine learning and neural networks, and achieving record revenues, solidifying its position as a public company on KOSDAQ (328130).[2][7]
Lunit stands out in the medical AI space through these key strengths:
Lunit rides the wave of AI in precision oncology, capitalizing on surging demand for tools that address global radiologist shortages and rising cancer burdens amid aging populations.[1][5] Timing is ideal as regulatory approvals (FDA, CE) align with healthcare's post-pandemic push for digital transformation, while multimodal data integration positions it ahead of fragmented competitors like Qure.ai or Aidoc.[2][5] Market forces favoring Lunit include explosive growth in medical imaging AI (projected multi-billion market), overseas expansion (93% of recent revenue), and biopharma needs for AI biomarkers in immunotherapy trials.[2][4] It influences the ecosystem by setting standards for interoperable, validated AI, partnering with OEMs to embed solutions in workflows, and advancing foundation models for scalable cancer care innovation.[3][5]
Lunit is poised for accelerated global dominance in cancer AI, with next steps focusing on next-generation foundation models, strategic acquisitions, and deeper biopharma integrations for companion diagnostics.[3][5] Trends like multimodal AI, regulatory harmonization, and AI-driven trials will propel its growth, potentially boosting revenues further as adoption hits emerging markets and U.S./Europe scales.[2][4] Its influence may evolve from diagnostic enhancer to oncology platform leader, redefining precision care much like it began—by turning data into life-changing decisions for clinicians and patients.[1][3]