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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