Korean startup Thinkwave Inc. is launching a unique platform, Petmate, which is dedicated to pet healthcare program like a ‘Fitbit for dogs’. The most important thing for any pet owner is healthcare for the geriatric pets.
The Real-Time Health Check for Pet Owners
Pet healthcare is definitely a challenging issue when pets age and are over 10 years (which compared to human years is over 65 years). The needs of an elderly pet are ongoing long term care and expensive. A typical visit to a vet for a routine check-up may cost over $200. If the health issue is complex like a heart attack, then the cost may increase to $5000. There is a need for a technologically-efficient way to monitor the health of the pet.
Petmate – the platform which Thinkwave Inc. is introducing, is like a real-time health checker which monitors their heartbeat. The wearable Petmate for pets is a smart way to monitor the health of your pets. The device can be connected to your mobile phones and PC to get the most current updated health report. Petmate reports the heart rate (health check), etc., of the pet and provides detailed information such as time of day, day of week, etc.
The Petmate platform also includes features like searching for a nearby animal hospital and comparing the prices and distances of different vets. The sensor technology can also help monitor animals post-surgery, which is a crucial period. It can even remind the owners of vaccinations. The startup is planning to add features of monitoring obesity management and diabetes among pets on the platform.
Petmate is seeking for connections & partnerships
The startup has chalked out a revenue model plan for its unique pet healthcare service through sales of the wearable hardware and having premium services available for animal hospitals. The company aims to get a subscription revenue of $ 45,000 to 75,000 yearly depending on the utilization.
Petmate is the fifth venture of the company founder and Young Kwon(COO), who started the company in 2017. The startup has a team of efficient engineers and sales specialists. The startup is looking to forge local partnerships with animal clinics and hospitals to reach pet owners.
Thinkwave Inc. team is attending the RISE conference in HongKong from July 8 to 11, supported by Korea Institute of Startups & Entrepreneurship Development(KISED) to showcase the product in front of the hundreds of influential investors. The RISE Tech Conference attracts many prominent leaders from global companies, major media outlets and influential investors to HongKong.