"While working on technology that automatically analyzes the movements of people and animals, I thought, 'This could be applied to joint diseases in pets.'"
Kim Kwang-hyun, CEO of 11Liter, has been interested in starting a business since his college days. After graduating, while working at a company, the thought crossed his mind that the technology work he was responsible for could also be applied to pet health analysis. Incidentally, his experience of rescuing a stray cat and becoming a pet owner also played a decisive role in selecting his business idea.
The core technology of 11Liter is a vision artificial intelligence (AI) based solution that analyzes the possibilities of progressive diseases in pets using only smartphone photographs. Currently, commercialization has been completed for four diseases, including obesity, cataracts, and nuclear sclerosis. This technology is being delivered in API (Application Programming Interface) form to insurance companies, corporations, telecommunications companies, and home appliance manufacturers, allowing other services or programs to easily utilize it.
"Starting this year, we have acquired a simple insurance agency (GA) qualification to jointly develop and sell insurance products with insurance companies. When enrolling in products that cover conditions like patellar luxation or dental treatments, we receive photos of the pet's legs or mouth and analyze them with AI. If the pet is deemed healthy, we provide a discount on the insurance premium."
The analysis of patellar luxation has been validated with an accuracy of over 97% in clinical trials, and the item has completed the approval process as a class three veterinary medical device. The cumulative number of AI analyses, including for patellar luxation and periodontal disease, has exceeded 120,000.
"Recently, we have targeted the senior pet market by operating a community for aging pets called 'Lifet' along with a commerce platform for health supplements. Within just three months of launch, the community has exceeded 2,000 posts and 8,000 comments. Through commerce, we purchase and sell nutritional supplements and functional foods directly. We also plan to expand our private brand (PB) products to 13 types within the third quarter."
Based on these achievements, 11Liter has raised a cumulative investment of 1.15 billion won. Major investors include CNT Tech, JCH Investment, and the Kangwon National University Technology Holding Company. In 2023 and last year, it recorded sales of 130 million won and 480 million won, respectively. This year, it aims for approximately 1.5 billion won and currently has surpassed 70,000 members.
"This year, we plan to enhance our current business models, including the community and health supplement commerce. Through academic cooperation with Konkuk University's College of Veterinary Medicine, we are researching AI analysis technology for 'primary skin diseases,' which are conditions that arise initially from the skin, such as allergic dermatitis and psoriasis. We expect to commercialize it by the fourth quarter."
He urged interest in the startup industry. CEO Kim also struggled due to a lack of information regarding business matters. He found a breakthrough at the Seoul Campus Town. He stated that he received a lot of help, from store entry to marketing and investment, by interacting with various startups related not only to pets but also to AI, logistics, and branding.
"Just as it takes a village to raise a child, startups also need the help of many stakeholders. At times, the business that a startup wants to pursue may feel radical and go against the existing system, but I would appreciate it if you could view it as part of countless challenges. I will also strive to create an ecosystem where everyone can coexist."