New Paradigm Makes Pre-Series A Investment in Pet Healthcare Startup 'Nosewalk'

[Photo by New Paradigm Investment]

[Asia Economy Reporter Kim Jong-hwa] A pet healthcare startup challenging the domestic market, where over 70% of the pet supplement market is monopolized by foreign brands, has successfully secured investment.

New Paradigm Investment, a TIPS operator under the Ministry of SMEs and Startups, announced on the 15th that it has made a Pre-A investment in NOSEWORK, a nanotechnology-based pet healthcare startup.

Park Je-hyun, co-CEO of New Paradigm, said, "NOSEWORK's strength lies in its ability to develop various products tailored to pets' life cycles and the latest consumer trends through pharmaceutical research and preclinical trials," adding, "We expect it to grow into a leading domestic healthcare brand by innovating pet health concerns and launching differentiated products."

Founded in 2017, NOSEWORK is a pet healthcare startup that manufactures and sells nanotechnology-based hypoallergenic pet supplements, prescription food and snacks, and toys. Since its establishment, it has successfully launched the pet health functional food brand 'NOSEWORK' and the specialized pet supplement brand 'PETSHEAL.'

Currently, the company operates its own online direct mall 'Petpning' and targets the pet market both online and offline through about 200 animal hospitals nationwide, CU convenience stores, CJ Olive Young, Lotte Mart, E-Mart, Artbox, Lotte Department Store, Shinsegae Department Store, Coupang, and KakaoTalk.

NOSEWORK, which has an R&D technology partnership with Dankook University College of Pharmacy, produces and sells ▲ comprehensive all-in-one care products for dogs from puppies to seniors, ▲ joint-focused care products for dogs' patella joints, and ▲ comprehensive all-in-one care products for cats from kittens to seniors, based on patented technology.

In particular, NOSEWORK succeeded in developing the hypoallergenic supplement 'Phenovis,' which secures high palatability without adding raw meat. Using microemulsion and microsuspension technologies that break down raw materials to the nano level, it increased the absorption rate of functional ingredients by up to 255% and secured material stability up to 198%.

Jang Hyun-duk, CEO of NOSEWORK, stated, "We will grow into a global company leading pet owners' trends based on our own patents and technological capabilities, not just a simple pet supplement company," adding, "With this investment, we plan to strengthen and launch our lineup of supplements and prescription food, expand domestic online and offline sales channels, and additionally enter countries such as Southeast Asia to target overseas sales channels."

This content was produced with the assistance of AI translation services.