In a world where pet companionship is on the rise and the generative AI market is booming, Korean startup Unpeil(unveil your pet) is introducing an innovative online pet portrait studio ‘Spettrum’. Leveraging the power of image generative AI technology, Spettrum is set to revolutionize the pet care industry by offering a unique solution that captures cherished moments with furry companions.
Pet care and generative AI markets are experiencing remarkable growth, with both sectors boasting impressive annual growth rates of 24% and 34.6%, respectively. Recognizing the potential within these burgeoning markets, Unpeil has secured Series A investment to spearhead its tech-driven venture.
Unpeil’s Solution: AI-Based Pet Portraits
Traditional pet portrait studios often come with a hefty price tag, averaging 250,000 KRW (approximately $210) per session. These studios can be burdensome for pet owners who want to commemorate their four-legged friends’ special moments.
Understanding the unique needs of pet lovers, Unpeil conducted extensive market research. Their findings revealed that 53% of pet owners sought to capture their pets’ special moments, 26% wanted to cherish the memory of pets that had crossed the Rainbow Bridge or faced health challenges, and 15% faced difficulties capturing images of elusive pets, such as cats.
Unpeil addresses these challenges by harnessing AI technology to create personalized pet portraits. The online platform Spettrum allows users to generate images of their pets, whether they are still with them or have passed away.
With a service satisfaction rating of 79% and a remarkable 77.4% willingness to pay for the service, Spettrum has already garnered strong consumer interest. Customers value the convenience and emotional connection offered by Spettrum’s AI-generated pet portraits, with an average cost of approximately $10 per image.
Unpeil recognizes the limitations of universal AI solutions and the complexity of AI services. Unpeil’s technology is designed to be intuitive, cost-effective, and accessible. By putting the power of AI in the hands of pet lovers, Spettrum aims to make pet portrait creation a seamless experience.
Future Expansion and Vision
Unpeil’s ambitious expansion plans encompass technological advancements, deep market penetration, and a global reach. They intend to advance their AI technology, targeting markets such as 3D rendering and NERF technology for generating videos.
In addition, Unpeil plans to offer a wide range of pet-related services, including visual data-based medical examinations, insurance offerings, and partnerships with shopping malls and NFT metaverse platforms.
The global market is also in Unpeil’s sights, with plans to launch in the United States, the United Kingdom, Asia, and Europe. The UK holds particular interest due to its favorable legal landscape for AI companies.
With a comprehensive business model, Unpeil offers free and premium services, making image generation accessible to all pet lovers. Their projected transition point in 2024, with an expected revenue of 40 billion KRW, demonstrates their commitment to growth and innovation.
Unpeil’s dedicated team, led by a CTO with a doctorate in AI, is poised to make a significant impact on the pet care industry. As Unpeil prepares to launch Spettrum’s Beta service in October 2023, pet lovers and AI enthusiasts alike eagerly await the opportunity to capture and cherish their pets’ memories in a unique and personalized way.
Unpeil’s Spettrum aims to provide a unique and customizable experience for pet owners, from highly realistic to innovative concepts. The platform offers fine-tuning options that allow users to create images that best represent their pets, ensuring a perfect fit for every pet lover.
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