OceansBio, Electroceuticals Manufacturer, Raises Pre-Series A Funding from Seoul Techno Holdings Inc. and Others

Hyunung lee

OceansBio announced today that it has secured pre-Series A funding of undisclosed amount from Seoul Techno Holdings Inc., Korea Credit Guarantee Fund, PNU Technology Holdings, and D.Camp.

Founded in 2018, OceansBio is a startup that develops non-invasive and implantable vagus nerve stimulation (VNS) devices.

In particular, it has developed an earbud-type, non-invasive VNS device to enable psychiatrists and patients with depression to overcome space and time constraints.

“Its biggest advantage lies in the earbud design, allowing patients to use the device wherever they want, such as in subways and restaurants, regardless of the time and place,” said Lee Hyun-woong, CEO of OceansBio.

“We plan to use the investment for the prototype development and clinical trials of electroceuticals for depression and epilepsy treatments. Moreover, we aim to expand our technology platform, targeting various neuropsychological diseases, and commercialize it. Our initiative also includes expanding our presence in addiction treatments such as fentanyl, gambling, and smoking addiction,” he added.

Seoul Techno Holdings Inc. will provide OceansBio with necessary resources, including human resources, network, and more, in addition to the funding. This support aims to help the company target various neuropsychological diseases, accelerate research and development, and bring the product to market quickly.

Mok Seung-hwan, CEO of Seoul Techno Holdings Inc., said, “The global market for electroceuticals enhanced with next-generation medical technology is growing at breakneck speed. Importantly, it will present numerous opportunities in mental health diseases and addictions.” He explained the reason for his investment by saying, “We expect OceansBio to lead a new paradigm in the treatment of various neuropsychological diseases by addressing the problems of existing electroceuticals.”