Monolabs raises 5.7 billion won in pre-Series A funding

AI-powered personalized dietary supplement subscription startup MonoLabs announced on the 7th that it had raised ₩5.7 billion in a pre-Series A funding round.

The round was joined by Mainstreet Investment, Kakao Investment and TBT. Following a seed investment last year from companies including Kolmar Korea Holdings, the latest funding brings MonoLabs’ total funding to ₩6.7 billion.

MonoLabs’ AI-powered personalized dietary supplement subscription service was approved for a regulatory sandbox in April, making the company the only operator in Korea selected to run both pharmacies and company-owned stores. Supplement dispensing and sales services are already common overseas, but regulation has made them difficult to offer in Korea.

Using its differentiated AI technology, MonoLabs provides information through its platform on every step from ingredient production to supplement manufacturing, dispensing and packaging. It also offers personalized management based on consumers’ intake information.

Its proprietary algorithm analyzes individuals’ health and lifestyle habits to recommend personalized supplements. After consulting with a nutritionist or pharmacist, customers receive a month’s supply, divided into single-serving packs for convenient daily use.

Mainstreet Investment CEO Park Soon-woo, who led the investment, said, “We expect this service, which combines dietary supplements and digital technology to make health management more convenient, to bring new change to the healthcare market. MonoLabs’ well-prepared team and groundwork particularly impressed us.”

MonoLabs CEO So Tae-hwan said, “With this funding, we plan to open pharmacies and company-owned stores in the Seoul metropolitan area this year and enter the supplement dispensing market in earnest. We will explore various ways to offer new experiences, such as convenient subscriptions to personalized supplements and reminders to help customers take them regularly.”