When it comes to sexual wellness, there are few technology driven products and services in the market designed exclusively for women. Korean Femtech startup Arooo has developed an app for women to get information about sexual health and wellness.
Arooo announced that it has been selected for the private investment-led technology startup support program for the TIPS incubator following a seed investment. TIPS is a representative private investment-led fostering program in which the Ministry of SMEs and Startups and a private investor jointly discover promising startups with excellent business models and technology. The selected startup gets support for R&D expenses.
Arooo is a ‘femtech’ company that operates ‘My Own Room,’ a sexual wellness platform for women. The app for women provides accurate sexual knowledge without any restrictions. It covers subjects like orgasm, matrubation, sex techniques, menstruation, etc. Earlier, Arooo received seed investment from Sopoong Ventures as a Future Play lead and Ignite XL, a Silicon Valley-based accelerator. Subsequently, it was selected for TIPS and secured an additional 500 million won ($387 161) in technology development and research funds for two years.
For TIPS selection, Arooo was recognized for its growth potential as a total women’s wellness platform based on IT technology. In the future, it is expected to have unrivaled technological prowess by developing an incubating system that creates user personas, a curation system that recommends content and products based on personas, and a system for evaluating and predicting content and products by persona cluster.
The startup expected to rise in the Femtech Market
Arooo CEO Lee Myung-jin said, “The femtech market is a promising area that is expected to grow at a rapid rate of more than 15% every year, but the platforms and technologies each company can utilize are limited. We want to create an environment where the femtech and wellness industries can produce high-quality services and products.” Future Play’s Mo Sang-hyun said, “Arooo is growing by creating a strong fandom based on its unique brand image and solid content.”
In addition, Arooo is generating growth momentum and producing steady results. Last year, it finished third in the startup survival ‘Unicorn House’ hosted by EO. In April, it was selected as a resident company by the Asan Nanum Foundation, which provides comprehensive solutions such as infrastructure, network, and education for startups.
Currently , My Own Room has the largest sexual education content database in Korea, with nearly 300 cases. In September 2020, the number of subscribers exceeded 10,000 within a year of launching the app, and as of May of this year, the number of accumulated content viewers reached 380,000. The platform also has a community for sharing opinions and a diary service that records the menstrual cycle and daily life.
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