Published On: Tue, Apr 7th, 2020

Korean grocery startup Kurly raises $150M

Kurly, a startup that operates a grocery smoothness use in Korea, has cumulative $150 million in a new financing turn months after reports claimed that a organisation competence be streamer to an acquisition.

Sequoia Capital, Hillhouse Capital and Digital Sky Technologies invested in a Korean startup’s Series E financing round, that according to news opening Korean Investors, valued a organisation during around $780 million.

The five-year-old startup, that lifted $113 million in a Series D turn final year, has lifted about $346 million to date, according to CBInsights.

The new financing turn for Kurly, also famous as Market Kurly, comes during a time when e-commerce sales have surged in Korea as people grow discreet of going out for shopping.

Local media reports have suggested in new months that rivals Shinsegae and CJ Corp have deliberate appropriation Kurly.

Launched in 2015 by former Goldman Sachs and Temasek researcher Sophie Kim, Kurly is designed to yield groceries and furnish to business who don’t have a time or seductiveness to revisit unchanging sell stores for their shopping. Kurly Market delivers orders by 7am any morning, with business given until 11pm a prior day to place their order.

Kurly also competes with Coupang, that depends SoftBank’s Vision Fund among a investors. Coupon, mostly seen as “the Amazon of Korea” and valued over $9 billion, allows same and next-day smoothness to “millions” of a customers.

Kurly differentiates itself by handling by a possess brands that are run regulating a marketplace indication to bond retailers with consumers. Kurly is also focused on preference over cost savings.

About the Author