Over the past few years we’ve seen O2O services expand into a lot of different industries in Korea. While some like accommodation and food delivery are well saturated, there are still some blue oceans out there.
Startup Madoross is literally sailing in one of these blue oceans with its new fishing charter platform. The company, which was founded in November last year, has been connecting keen fishers to boat captains for the past three months through its online service.
Fishing is a popular pastime in Korea, and Madoross lets anyone book and pay for fishing boat charters from a smartphone. Having partnered with 1000 boats around the country, fishers have plenty of locations to choose from. One hundred of those boats are exclusive partners, meaning they can only be booked and paid for through Madoross.
According to the company, the venture has shown great potential so far and yesterday netted funding of 300 million won (USD $260,000) in angel investment from various sources including Amantani Partners.
“The service doesn’t just improve boat operations, but also gives customers incentive to come back, providing a direct boost in revenue,” said founder and CEO Brian Cho.
Beyond a booking service, Madoross wants to bring more of the fishing industry online through its technology, and intends to position itself as a customer management solution and marketing tool in the future. Other plans include using its in-house big data tool to offer custom recommendations for fishing trips, as a well as information on fish and tourist attractions.
Madoross is also getting involved with direct boat operations, and recently acquired its own fishing vessel based at Incheon’s Yeonan Pier to begin operating this month.
