# EOFlow Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/eoflow-co

- Industry: Medical Devices & Equipment
- Headquarters: Seongnam, South Korea
- Website: www.eoflow.com/
- Total disclosed funding: $20M
- Latest round: Series C (May 8, 2018)
- Investors on record: 9

## About

Founded in 2011 and based in Seongnam, South Korea, EOFlow Co., Ltd. operates as a manufacturer of wearable and disposable insulin delivery devices for people with diabetes. In May 2023, Medtronic agreed to acquire 6.24 million shares in EOFlow Co., Ltd. at KRW 30,000 apiece for KRW 187.2 billion, in a PIPE deal. In December 2023, the transaction was withdrawn. As of 2026, the firm is an authorized seller in Europe, South Korea, Indonesia, and the United Arab Emirates and operates from an additional office in California, US.

The business creates and sells wearable insulin pumps using a unique microfluidic technology that reduces the risk of insulin occlusion while delivering insulin. Additionally, the company also offers a smartphone application that allows users to monitor and control the patch directly from their phones.

## Funding rounds

- Series C, May 8, 2018, $13M — LB Investment, Hastings Asset Management, Idea Bridge Asset Management, Huons
- Series B, Jan 4, 2017, $4.7M — Korea Development Bank, UTC Investment, Idea Bridge Asset Management
- Series A, Oct 8, 2015, $2.2M — Industrial Bank of Korea, Smilegate Investment, Daesung Private Equity

## Investors

- Industrial Bank of Korea — Series A
- Smilegate Investment (https://capitalatlas.ai/funds/smilegate-investment) — Series A
- Daesung Private Equity (https://capitalatlas.ai/funds/daesung-private-equity) — Series A
- Korea Development Bank (https://capitalatlas.ai/funds/korea-development-bank) — Series B
- UTC Investment (https://capitalatlas.ai/funds/utc-investment) — Series B
- Idea Bridge Asset Management — Series B, Series C
- LB Investment (https://capitalatlas.ai/funds/lb-investment) — Series C
- Hastings Asset Management — Series C
- Huons — Series C