Kurly operates Market Kurly, a South Korean e-grocery platform. The company provides online grocery services to customers in South Korea. Kurly raised 120 billion won (about $91 million) from existing investors Aspex and Anchor. The funding was secured four months after the company abandoned a planned initial public offering. The article identifies Aspex and Anchor as participating investors. Kurly operates a consumer-facing online grocery service that offers next-day and overnight delivery across South Korea, leveraging proprietary data analytics and a service technology stack to curate selection and pricing. The company plans to use new capital to build out its tech stack, recruit talent, and expand its overnight delivery coverage and logistics infrastructure. Kurly recently reversed plans to pursue a U.S. IPO and said it will instead seek a listing on the Korean stock market. The business grew to $845 million in sales in 2020, up 124% year-over-year. Kurly has not disclosed whether it is profitable or its operating margins. Kurly is a South Korean online grocery delivery startup that operates an e-commerce platform for grocery ordering and delivery. The company was reported to have secured additional funding by local outlet Korean Investors. According to the report, Kurly received $150 million from existing investors. The investors named were Sequoia Capital, Hillhouse Capital, and DST Global. The article does not disclose the financing instrument, valuation, operating metrics, or use of proceeds. No further details on future plans or financial performance were provided in the report. Market Kurly is a South Korean online grocery delivery startup operating an e‑commerce grocery delivery service. The company is in the midst of an ongoing Series D funding round. It raised an additional W35 billion (about $30 million) from private equity firm Hillhouse Capital, according to The Investor. The reported injection is described as an additional tranche within that Series D. The article does not disclose revenue, user metrics, use of proceeds, or valuation. No future plans beyond the ongoing fundraise were reported in the article. Market Kurly operates an online grocery service built around a cold-chain system that maintains optimal temperatures from producer to consumer to deliver fresher products faster. Its flagship "Morning Star Delivery" service delivers orders placed by 11 AM by 7 AM the next morning, including produce harvested the same day. Launched in 2015 and based in Seoul, Kurly disrupted the online grocery market and aims to solidify its number-one position in the daybreak grocery delivery segment. The company plans to use new funding to secure internal processes, build a talent pool, strengthen cooperation with suppliers, and recruit substantially in IT to support sustainable growth. Financially, Kurly reported KRW 157 billion in sales in 2018—three times 2017 levels—and monthly sales hit KRW 30 billion in January.

Total raised

$643M

Funding rounds

5

Latest round

Equity

Latest activity

May 2023