JEJU-DO < invest Korea

"CareSix is a company advancing into the global pet-tech market with a mission to extend pets' lifespans and open new pathways in veterinary care. By offering solutions to pet owners facing challenges in caring for their pets and to clinics lacking appropriate tools, we envision a future where all animals can access quality medical services. Our brand, 'Cotons AI, ' marks the first step towards realizing that vision. We are committed to creating products that bring better value for a better future."

Kim Sung-hoon, CEO of CareSix

CareSix's "Cotons Sense 1 VET" (hereafter 'Cotons Sense') is a disease monitoring system that measures vital signs such as heart rate, respiration, and body temperature in pet dogs. Using an algorithm refined with over 300,000 clinical data points, it sends s immediately upon detecting abnormalities and enables real-time remote monitoring. Notably, it has achieved technological innovation through continuous research and development, including being the first in the world to apply a ballistocardiogram (BCG)[1] sensor to a collar-type device, for which it has secured a patent.

Q. CareSix was founded in 2019 as a pet-tech company. What led you to establish your base in Jeju?

We established a presence in Jeju through a connection with Jeju National University. In the early stages, the university's College of Veterinary Medicine proposed developing an IT-integrated device. There was a need for a device that could easily and accurately monitor vital signs in clinical settings, as existing equipment made it difficult to promptly detect emergencies in hospital wards. Furthermore, accurate signal measurement required multiple devices, which were costly, posing a financial burden for hospitals with many patients. These circumstances led to the development of Cotons Sense, combining market demand with CareSix's expertise. We entered a Memorandum of Understanding (MOU) with the College of Veterinary Medicine and carried out joint research.

Q. Tell us about the development process for Cotons Sense.

We participated in the Early-Stage Startup Package program by the Korea Institute of Startup & Entrepreneurship Development, where we developed technology related to oxygen saturation for Cotons Sense. Later, through a government project from the Ministry of SMEs and Startups focusing on "acquiring vital signs from middle-aged and elderly dogs," we created a prototype device. After nearly four years of research and development, including quality verification, design improvements, and mass production, we launched the final product in October 2023.

Q. Could you explain how the product works and what its advantages are over existing equipment?

The product consists of a wearable device that monitors heart rate and respiration, along with a data management system called the "gateway." It can be used in conjunction with a dedicated mobile application and cloud server. The device measures vital signs with six sensors, transmits the data to the cloud, and analyzes it using algorithms. Existing equipment requires attaching ECG electrodes to the legs, using an oxygen saturation device to monitor pulse, and inserting a rectal thermometer. In contrast, Cotons Sense can measure readings with over 90% accuracy simply by placing the device around the neck. Moreover, unlike traditional devices, it does not require shaving the fur and allows for remote monitoring, enabling updates on the animal's condition anytime, anywhere. This makes it possible to manage a larger number of patients more efficiently.

Q. To enhance the accuracy and reliability of Cotons Sense, you've secured data from over 300,000 clinical cases. How did you collect this data?

As a monitoring system based on algorithms, data acquisition is crucial for competitive product development. CareSix obtained data with the cooperation and support of Jeju National University's College of Veterinary Medicine, focusing on clinical cases involving dogs with owner consent. After launching the product, we continue to collect data from veterinary hospitals using Cotons Sense. Recently, we signed an agreement with Anicom Holdings, Japan's largest pet insurance group, to collaborate on AI algorithm development for the next two years.

Q. You are about to launch a product for general consumers beyond veterinary professionals. What distinguishes the new product from the existing Cotons Sense?

We are developing "Sense 1 Home," a device for pet owners to use at home, aiming for commercial launch in June 2025. The hardware and algorithms are almost identical to the original Cotons Sense. However, while Cotons Sense focuses on monitoring vital signs like heart rate, body temperature, and oxygen saturation, the consumer version will also include algorithms for "clinical signals" such as urination, defecation, and sleep to accurately assess the pet's condition. Since it must detect unusual signs amidst daily activities, it requires much more detailed analysis. The device will deliver data to pet owners daily, weekly, or monthly and recommend a veterinary visit if anomalies are detected. This is expected to aid remote consultations by enabling more precise diagnoses based on the collected data. Sense 1 Home will act as a 24-hour caretaker for pets, continually evolving through algorithm updates. The device serves as a tool, while the ultimate business model is a monthly subscription service.

Q. This year marks your second year participating in a support program for startups aiming for an IPO. What kind of support have you received so far?

We initially had the vague goal of going public, but as a startup focused on product development, it seemed like a daunting task. Being selected for the program allowed us to receive support in areas such as website development and market research, as well as training from various expert instructors. Among them, Professor Kim In-soo Kim from KAIST and accountant Kim Seo-ho from Hanmi Accounting Firm highly valued CareSix, which enabled us to secure KRW 540 million in seed funding through their networks. This investment helped us develop our second product, the "Sense 1 Guardian," and became a crucial stepping stone for our next stage of growth.

Q. In August, you signed a contract with Fresh Nation in India, marking your first overseas expansion. What significance does this achievement hold for a pet-tech company like CareSix, and what kind of collaboration is planned for the future?

India has competitive advantages in global operations and the management of after-sales service centers, even within the pet-tech market. Going forward, CareSix plans to establish an overseas subsidiary in India and collaborate with Fresh Nation on platform development. Building on this, we are preparing to expand into Japan, the U.S., and Europe starting next year, aiming to complete this expansion by 2026, with plans to pursue an initial public offering (IPO)[1] by 2028.

Q. What are your short-term and long-term goals, including plans for business expansion?

CareSix has earned a reputation for driving technological innovation through research and product development related to dog care. As a result, we won the Innovation Award at the Consumer Electronics Show (CES) and were featured in Trend Hunter's "Top 100 Tech Trends." This recognition came within just four years of our emergence as a pet-tech company. Moving forward, we aim to continue growing as a company that represents Jeju and exerts global influence while contributing to the local community.