Kurly Raises $325 Million at $3.3 Billion Valuation for E-commerce Industry

Kurly is a Korean online grocery start-up, that provides next-day delivery of groceries in South Korea. It is the first company in South Korea that delivers premium food the next day morning. Rival companies began to adopt such delivery services later. As of now, the company has more than 10 million users, among them 2.4 million are monthly active users.

In the recent investment round only Anchor Equity Partners, a private equity firm from Hong Kong. Among the bakers from previous rounds were DST Global, Sequoia Capital China, Hillhouse Capital, Aspex Management, etc. The money raised will be used for data infrastructure advance, as well as logistics and recruitment.

Kurly, headquartered in Seoul, was founded by Sophie Kim in 2015. Besides being a pioneer in the South Korean overnight delivery service, Kurly also works out the initiative to replace all polystyrene packaging with paper by 2021, the All-Paper Challenge. “Quality of food is directly linked to its freshness. After testing various packaging materials, we found paper best meets our standards,” said Sophie Kim. Kurly can also collect the paper in front of their customers’ houses and sell it to a recycling firm. Money raised is used for planting trees at schools.

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