April 27, 2024

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[THE INVESTOR] Kurly, operator of popular grocery delivery service Market Kurly, on Sept. 20 announced that it has closed its Series C round having raised 67 billion won (US$60.03 million).

“Our Series C round includes around 50 billion won from a consortium led by Sequoia Capital and DST Global,” a Kurly spokesperson told The Investor. The company added that it has also secured funds from investors who had invested in previous rounds, including SEMA Translink Investment and Korea Investment Partners. 

It intends to use the newly secured funds to establish infrastructure that can help it provide high-quality delivery service, while stepping up marketing schemes to enhance its brand awareness. In mid-September, the company started advertising its brand on YouTube and TV networks as a pilot project. It plans to conduct more aggressive marketing through these channels starting October.

Established in 2014, Market Kurly offers a wide range of groceries for delivery by 7 a.m., as long as the orders are placed before 11 p.m. the previous day. It currently has over 600,000 users and its sales reached more than 46.5 billion won last year.

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