FEROKA Inc. Asset Profile

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Year established

2014

Location

Seoul South Korea

Primary Industry

Medical Devices & Equipment

About

Based in South Korea, and founded in 2014, FEROKA Inc., formerly known as LOCOOP, operates as a drug delivery company. The company was founded by COO Induk Lee and Yeo Myung Lim. In August 2022, FEROKA raised KRW 10 billion in Series B funding from JETEMA, WELCOME CAPITAL, IBK Capital, and HB Investment. The funding gives FEROKA a pre-money valuation of KRW 50 billion. As of 2022, the company’s CEO is H.S. Kim. FEROKA offers microneedle technology, which is a drug delivery system (DDS) that is used by medical professionals for injections and tests. The microneedle consists of a multi-layer structure that has a shaft and a drug layer. With the help of its two-layer structure, medicines can be delivered directly to the patient’s skin layer. In addition, the company’s portfolio offers a product called the Delta Robot 3D Printer. The company uses its needle technology for various treatments, including epidermolysis bullosa (EB) treatment, obesity treatment, and lung cancer treatment. The company plans to use the funds raised in August 2022 for research and development to graft microneedles into vaccines and gene therapy products.

Current Investors

HB Investment, IBK Capital, Welcome Capital

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Primary Industry

Medical Devices & Equipment

Sub Industries

Healthcare IT, Surgical Devices, Medical Equipment Distributors

Website

www.feroka.net

Verticals

3D Printing, HealthTech

Company Stage

Series B

Total Amount Raised

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Financials

Fiscal Year Ended
Revenue (USD)
% Revenue Growth (YoY)
Operating Income (USD)
Operating Margin
EBITDA (USD)
% EBITDA Margin
NET Income (USD)
% Net Margin

31 Dec 2018

11,441,000

(54,717,000)

(478.3%)

(55,188,000)

(482.4%)

31 Dec 2019

167,979,000

1368.2%

(7,161,000)

(4.3%)

583,000

0.3%

31 Dec 2020

31 Dec 2021

31 Dec 2022

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