Veterinary startups in Korea or pet health startups in Korea have ushered in a new era of convenient services that make the lives of pets, pet owners, and veterinarians easier. With the advancement in technology, the overall pet health industry in Korea is growing which is great because Korean pet owners are spending more money on their pets than ever before. In Korea, pets are treated as family members, and despite the exorbitant cost of medical treatment for pets, the industry continues to grow. Vet clinics are everywhere in Korea and now pet startups are focusing on this industry to offer better service to both doctors and pet owners.
Korean pet tech startup Fitpet was founded by a former Samsung SDS engineer. They are the creator of Ahead which is a urine test kit for pets. The kit is used to analyze pet urine. Users can then use their mobile app to check for more than 10 types of diseases. Ahead has been certified as an official veterinary medical device by the Animal and Plant Quarantine Agency (APQA) in Korea.
In addition, the startup developed the world’s first nose print recognition technology for dogs called “DETECT”. This played a large role for insurers offering pet insurance. FitPet partnered with DB Insurance to solve the issues of identifying dogs, even those without a chip.
Fitpet has had an estimated $15 million in sales for 2022. Furthermore, they were able to raise over $18 million in funding from Premier, LSK, Mirae Asset Capital, P&P Investment, Samsung Venture Investment, and LB Investment.
“We plan to complete the entire life cycle service from pet health check to healthcare, treatment, and insurance claims, by establishing an insurance company for pets by 2030,” said the CEO of FitPet Junguk Ko.
PetPrice is an app that allows pet owners to get comparative estimates for their pet’s medical expenses. Therefore, pet owners can find the lowest price for their pets. Quotes from different vet clinics across regions can be accessed in less than a minute. In addition, the app has a companion animal guardian review community that offers reviews on both treatment and surgery results. Reservations can be made through the app. If there are any additional charges, the app will notify the pet owner in advance.
ImpriMed is a veterinary precision medicine startup that provides cutting-edge personalized medicine easily accessible for pets with blood cancer diseases. Their prime service is called Personalized Prediction Profile and it is used by board-certified veterinary oncologists to help dogs with lymphoma and leukemia. To date, ImpriMed has raised over $12 million in funding.
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