Singapore- and Korea-based healthcare startup Eunogo has raised a “six-digit figure” in a seed funding round, led by serial investor Peter Tan, who is Founder at the Peter Tan Organization in Singapore.
The investment will be used to improve customer experience and curation algorithm, as well as to increase brand awareness in Southeast Asia, Eunogo Co-founder and CEO Joy Kang said in a press statement.
Through this strategic investment, Eunogo also gets exclusive access to thousands of sales representatives and distribution channels by the Peter Tan Organization and its portfolio companies all over Southeast Asia and China.
The startup was incorporated in September 2016 by a team of local Korean industry experts that have over 10 years’ experience in the cosmetic surgery and healthcare industry, discretely catering to Korean celebrities.
Eunogo runs a premium virtual assistant service for arranging aesthetic procedures and tours in Korea. The company shares its connections and expertise with foreigners who wish to visit Korea for plastic surgery and aesthetical touchups, providing access to top-tier doctors and VIP care with no waiting time, medical translator, private transport and concierge services.
“Eunogo is in a digital healthcare space but the key element of this business is ensuring highest quality experience for our end-users which is beyond digital,” says Kang. “While other players focus on digital marketing and scaling, we are going to focus on strengthening reliability with our members through quality assurance and aftercare.”
South Korea’s US$10 billion cosmetic surgery market is composed of over 2,000 plastic surgery clinics, making it is very difficult for foreigners to decide which doctor to choose. Utilising Korean government’s open medical data, Eunogo uses a rigid 40-item screening criteria to pre-select the right medical partners and check ‘behind-the-scenes’ reputation of doctors, including which celebrities visited which doctors, or if clinics covered up accidents or complaints to curate the right surgeon for Eunogo members to ensure the highest quality and safety.
The clientele include celebrities and socialites in Indonesia and Singapore.
The founding team started executing the idea in Korea since 2015, and it has the support of Korean government authorities, including Ministry of the Interior, Ministry of Health & Welfare, Small & Medium Business Administration, National Information Society, as well as Korea Database Agency.
Accelerated by Singapore’s Adval Capital Group, the startup won first prize during 2016 Korea-Singapore Startup Demoday in September.