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THE INVESTOR
October 21, 2019
Big Reunion

Retail & Consumer

Ghost Kitchen secures additional W9.2b

  • PUBLISHED :September 17, 2019 - 13:22
  • UPDATED :September 17, 2019 - 13:22
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South Korean shared kitchen startup Ghost Kitchen announced on Sept. 16 that it has secured additional funds worth 9.2 billion won.

Its existing investors including startup accelerator Schmidt and shared office operator Fastfive funded the additional amount. New investors, including Smilegate Investment, Mega Investment and IMM Investment, also joined this funding round. The Korean company received around 2.1 billion won in February.

 



In July, Choi Jung-ee, former key member of Korea’s leading food delivery app operator Woowa Brothers that launched services like raw fish delivery service Baemin Susan and shared kitchen Baemin Kitchen, opened the first Ghost Kitchen branch near Samsung Station. The startup also recently opened a branch near Gangnam Station in August.

The shared kitchen service offers cooking facilities and space for anyone who wants to start a food business but does not have enough assets to open their own restaurant. Ghost Kitchen users have to pay 10 million won ($8,420) to 12 million won as deposit in advance. The monthly rent is around 1.5 million won to 1.7 million won.

Ghost Kitchen emphasized that it has adopted technology at its facility to make the process of receiving payment and delivery orders autonomous, to help restaurant owners focus more on cooking. The Korean company plans to enhance its technology further with its new funding.

Ghost Kitchen also hopes to increase the number of its branches throughout Seoul in the near future.

By Song Seung-hyun (ssh@heraldcorp.com)

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