Funding for Genoplan Exceeds $10K at Wadiz

KoreanStartup_Genoplan

Genoplan, a startup specializing in DNA testing, secured at least $10K investment through a domestic crowdfunding platform Wadiz. On March 19, only seven days since the start of the funding, Genoplan easily passed the $10K threshold to finance Genoplan Fit Plus, its gene-specific dietplanning service. More than a month still remains until the funding deadline.

Genoplan Fit Plus provides users with customized weight management advice based on their genetic information. Users first purchase a Genoplan analysis kit from designated hospitals and store their saliva inside the kit. Once they mail the kit back to Genoplan, the company utilizes certified medical devices to conduct genetic analysis and produce dieting advice tailored for each user, including what to eat and how to work out. Genoplan also provides post-analysis diet coaching services for individuals, in which professional nutritionists check their daily diets.

The company strongly believes in its analysis methodology, as it is grounded upon researches conducted in renowned institutions such as Stanford and Harvard. Their studies reported intimate relationship between people’s DNA and their weight. Also, the analysis is conducted through devices produced by Roche Diagnostics, a respected manufacturer in the field.

“Through information provided by Genoplan Fit, users can systematically manage their weight at a reasonable price,” says Byungkyu Kang, CEO of Genoplan. The kit and coaching services cost about $200. He adds, “through the service, people can ultimately realize lifestyles fit for themselves.”

Along with Genoplans’ success, also notable is Wadiz’s role as a promising venue from which Korean startups can secure investments. Wadiz has recently helped Lineable and Hello Geeks bankroll their businesses. Hyesung Shin, CEO of Wadiz, said, “I will not spare support for the funding success of startups with ideas.”

Genoplan’s gene-testing service has earned overseas acclaims as well. It won first place in a pitch contest held during last November’s “East Meets West Conference” in Hawaii. Last October, it was also chosen as one of six best “Global K-Startups” by South Korea’s Ministry of Science, ICT and Future Planning. Currently, it is also one of twelve startups endorsed by a South Korean startup accelerator, SparksLabs.

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