South Korea-based online grocery platform Market Kurly has raised $200m in a series F round featuring logistics services provider CJ Logistics, DealStreetAsia reported today.
The round also featured Aspex Management, DST Global, Hillhouse Capital, Millennium Management and Sequoia Capital China. It takes the company’s post-money valuation to approximately $2.2bn, according to DealStreetAsia.
Kurly provides an online platform which sells a variety of products including food, drinks, pet food, household and hygiene products. The funding will be used to beef up its logistics infrastructure, scale its team and further develop its technology.
The company had previously raised $160m in a May 2020 series E round backed by SK Networks, an energy, steel and automotive subsidiary of conglomerate SK Group.
The series E round was led by DST Global and also included Hillhouse Capital, Sequoia Capital China, Fuse Venture Partners, Translink Capital and Aspex Management.
Kurly had already secured about $168m in funding, including $113m in a mid-2019 series D round comprising an $88m first tranche led by Sequoia China and a $25m extension led by Hillhouse Capital. It identified SK Networks, Fuse Venture Partners and Translink Capital as existing backers in the series E round.