Sequoia China-backed Korean online grocer Market Kurly raises $88m Series D

Photo by Fikri Rasyid on Unsplash

Kurly Inc., the provider of online premium grocery service, Market Kurly, has raised 100 billion won ($88 million) in a Series D funding round led by existing investors including Sequoia Capital China, according to an announcement.

International investor, Global Venture Partners, also participated in the round.

Market Kurly, launched in May 2015, has disrupted the online grocery industry through logistics innovation.

Its ‘Morning Star Delivery’ service is the fastest and freshest delivery system available to Korean consumers. All orders placed by 11 am are delivered by 7 am the next morning, including fresh produce harvested that same day.

“With this latest investment, we can secure internal processes and build a talent pool so that we can continue to increase our grocery market share, while maintaining quality,” said the company’s CEO Sophie Kim.

“Market Kurly has shown its strong presence as a leading player in the fast-growing online grocery market,” said Tiantian He, Vice President of Sequoia China comments. “We are deeply impressed with Sophie Kim, CEO at Kurly Inc., bearing vision, passion and drive, which leads us to participate in Series D again. We will continue to support Kurly.”

Global Venture Partners provides advice, investment and strategic backing to high-growth tech ventures in Europe and around the globe.

Based in London and Berlin, Global Venture Partners has helped leading tech businesses grow from startup to multi-billion Euro operations with a global footprint, such as Europe’s most successful food delivery platform.

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Indian grocery delivery startup DailyNinja said to seek up to $20m in funding

S Korean drug discovery platform Standigm raises $11.5m Series B led by Mirae Asset

Korea’s SK Holdings invests $300m in US natural gas firm Blue Racer

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.