Diabetic meal creator Dr. Kitchen gets W2b funding
[THE INVESTOR] Dr. Kitchen, a Korean startup that creates low-sodium meals for diabetics, said on Aug. 10 it has attracted 2.3 billion won (US$2 million) from local venture capital companies.
Of the amount, 1.3 billion was from G.N.Tech, while Mirae Asset Venture Investment funded 1 billion won. Since it was founded in 2015, Dr. Kitchen has received a total of 3.7 billion won investments.
“With the investments, we plan to expand research and development into other diseases such as cancer and hypertension,” said Dr. Kitchen CEO Park Jae-youn. He added that the company has maintained a monthly growth rate of 10-15 percent since last April, and that it offered dietary consultations to more than 10,000 patients. Diabetes is one of the fastest spreading diseases in Korea, with more than 4 million people affected. The metabolic disorder can lead to a number of complications such as skin and digestive problem.
Dr. Kitchen partners with local hospitals to offer medically proven meals and recipes that the firm delivers to its clients. Later this year, the company is planning to announce the first result of clinical trials of its diet program conducted with Samsung Medical Center. The report will indicate how Dr. Kitchen’s program promotes lower fasting blood sugar levels and glycated haemoglobin, which is a risk marker for diabetes. Dr. Kitchen has also initiated clinical studies for weight loss diets tailored to genetic profiles, along with diets for patients with chronic renal failure.
By Park Han-na (firstname.lastname@example.org)