LIMPID Corp. announced on the 14th that it had been selected for the Little Penguin program run by the Korea Credit Guarantee Fund.
The Little Penguin program supports startups with strong technical capability and original ideas. It is the step immediately preceding 'First Penguin', the Korea Credit Guarantee Fund's flagship startup support program, and provides guarantees intended to nurture promising technology companies.
Selection gives LIMPID access to a total of KRW 1 billion in financing over the next three years. The company sees this as objective recognition of its business capability, and expects the three-year support to let it pursue the market more actively.
The evaluation credited the pet food health care app 'Saladpet' and 'TrustyFood', the pet food brand developed by analyzing data from the app. Saladpet is a tailored pet nutrition health care service built on data covering 93 percent of the Korean feed market. TrustyFood, the freeze-dried diet brand launched in the second half of last year, was developed by a team of clinical nutrition veterinarians drawing on palatability, allergy and health data from the Saladpet app.
Heesu Kim, CEO of LIMPID, said, "Saladpet is Korea's leading pet food app and has built up a large body of data, and this recognizes the expertise and technical capability behind TrustyFood, which we developed by analyzing it. As a company founded by clinical nutrition veterinarians, we will keep working to set a clearer standard for the Korean pet food market."
LIMPID, founded by clinical nutrition veterinarians, currently analyzes feeding records for more than 100,000 animals on its platform and uses its own nutrition database to advance premix consulting and ingredient development for main diets. That work produced the premium diet brand 'TrustyFood', launched last year and now exported to Thailand, Hong Kong and the Philippines, and the company plans to launch the first freeze-dried therapeutic diet brand in the second half of this year.