Kurly

Founded in 2014, the Kurly startup from South Korea provides grocery delivery services the next day throughout the country.

History

2021: Raising $200 million, including from DST Global

In mid-July 2021, South Korean product delivery startup Kurly raised $200 million in funding. The investment round of Series F was attended by Yuri MilneradST Global, Aspex Management, Sequoia Capital, Hillhouse Capital, Millennium Management and CJ Logistics Corporation.

According to the results of the last round, the company's valuation grew to $2.2 billion, which is 2 times more than in 2020, when Kurly closed the investment round of the E series by $150 million with an estimate of $780 million.

Yuri Milner Foundation invested in South Korean food delivery service Kurly

This round of funding is evidence of Kurly's contribution to transforming the habit of consumers shopping in regular stores into a more convenient way to shop online, offering excellent product choices with an innovative delivery service, "said Sophie Kim, CEO and founder of Kurly.

Kim also added that the company was successful in delivering goods to customers at a reasonable price using service technologies expanded by using its own data analytics. The startup is pleased with the emergence of new capital, which will allow it to continue to invest in logistics infrastructure, people and technology in order to continue to innovate in the mobile product market and improve the lives of consumers, manufacturers and workers.

The startup planned to hold an IPO in the United States at the end of 2021, but instead it began to strive for listing in its domestic market.

Kurly studied IPO opportunities both abroad and domestically. After a detailed study of the conditions, such as the business model and the state of the stock market both at home and abroad, Kurly decided to conduct an initial public offering of shares on the Korean stock market, the startup said in a statement.[1]

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