Investment

Medical metaverse platform Newbase draws ₩4 billion Series A investment


Newbase, a medical metaverse simulation platform, announced that it has attracted 4 billion won (3.19 million) in Series A investments from BNH Investment, DevSisters Ventures, Timefolio Asset Management, and Digital Healthcare Partners (DHP).


Newbase has been in the spotlight in various medical education sites, including universities and hospitals, launching NurseBase and MediBase. NurseBase implements virtual hospitals for nursing students’ practice, and MediBase allows health and medical students to repeat, apply, and master medical skills.


This is a screen capture of the medical metaverse simulation platform produced by Newbase.
This is a screen capture of the medical metaverse simulation platform produced by Newbase.


Medibase provides clinical skills, such as blood collection, GCS, and pupil reaction, while Survivalbase provides VR experiences such as basic survival swimming, life-saving methods, and disaster responses.


Analysts said the use of metaverse virtual reality (VR) and mobile platforms with a high sense of medical reality has made it easier for students to experience a vivid medical learning environment.


Besides, they said, it can improve problems facing some medical students in finding hospitals to practice, solve problems, such as patient safety and privacy issues, and reduce the consumption of single-use medical resources.


Currently, universities and hospitals, including Seoul Women’s Nursing University and Suncheon University, have introduced it as part of their education programs for medical staff. In addition, there is a high demand for expanding other aspects of the platform, such as medical and paramedic training.


Despite being an early start-up, Newbase granted stock options to all employees to secure competent manpower. Additionally, it plans to increase the incentive system to provide remote and flexible working selectively and encourage talent to challenge themselves to find new growth opportunities in the metaverse based on a culture of autonomous decision-making and transparent communication.


“With the recent growing interest in the metaverse, many talents have flowed into the game industry,” Newbase CEO Park Sun-young said. “Through this investment, we will quickly upgrade our services and speed up the expansion of metaverse contents for nurses and doctors.”


Furthermore, the company plans to diversify its services by considering the future needs of the medical education market, Park added.

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