South Korean pharma tech start-up Medility, the developer of the world’s #1 pill counting app Pileye, attracted pre-A investments from Kakao Ventures and BA Partners. The amount is confidential.
Medility’s Pileye is an application that provides an artificial intelligence (AI) based pill counting service. Since its launch in December 2020, it has received a good response, securing more than 150,000 pharmacists from 216 countries as customers in about a year. Medility helps pharmacists work more efficiently by improving drug delivery and pharmacy operations systems. Pileye is an application created based on the experience of founder Park Sang-eon, who has been operating a pharmacy for ten years.
Pileye increases its user base in the United States and Canada
Pharmacists spend a certain amount of time every day counting and packing pills. The reality is that manual counting is tedious and time-consuming, errors occur, and complete data management is difficult. But with Pileye, dispensing prescriptions or managing drug stocks is much easier. Currently, it is possible to count up to 1000 tablets with 99.99% accuracy with a single tap of a smartphone using Pileye. Sorting using the app is over 20 times faster than manual counting, allowing pharmacists to focus on their work, without having to repeatedly count pills. Another advantage is that all this data can be recorded and easily collected for management.
In 2022, the number of monthly users of Pileye in the United States and Canada exceeded 50,000. It is gaining attention in the industry for its high accuracy and speed compared to existing services. Medility plans to develop the pill counting app into a global pharmaceutical platform by helping pharmacy operations more efficiently in pharmaceutical inspection and inventory management. In particular, as it becomes mandatory in the United States next year to record the entire process from the production, distribution and prescription of drugs, users’ needs for automated inventory management of drugs should increase.
Park Sang-eon, CEO of Medility, said, “Based on rapid growth, we have monopolized the largest amount of pill image data in the industry. We want to become a global company that can contribute to global health through the digital transformation of pharmacies. Kim Kim-won, Managing Director of Kakao Ventures, said, “This company, which started to solve the inconvenience of a former pharmacist, is very likely to become a platform that helps pharmacists in general.”
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