Zitko, a Korean health care wearable device startup has received US$1m (KRW1.2b) investment from IBK Capital and SBA (Seoul Business Agency). This investment follows a recent investment from ‘The Creation Investment’ to bring total for recent investments to US$1.7m (KRW 2b).
Zikto is a healthcare product that monitors walking steps and corrects body posture. After releasing their ‘Zikto Walk’ on the 5th of October, the company has received praise for the product’s design and technology. On the back acknowledgement for their technology, Zikto have formed a strategic partnership with Gyubo Life Planet and Naver Line. The product design has also been recognized after receiving silver at the 2015 Asia Design Award.
Following on from these business break decisions, Zitko have signed an MOU with Samsung’s Lavenova to jointly develop the product as a fashion item.
Zikto’s Seo Han Seok (Director) commented on the investment, “This investment reflects the market’s selection for wanting to grow Zikto. The funds will be used on a wide range of marketing activities, development of additional items for the wearable ecosystem and further research and development”.
Zikto will be attending SXSW (South by Southwest) to be held in Austin, Texas in March next year where the company is hopeful of a similar audience reception.
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