South Korea-based online grocery delivery service Market Kurly has obtained ₩200bn ($160m) in a series E round featuring SK Networks, an energy, steel and automotive subsidiary of conglomerate SK Group, DealStreetAsia reported on Friday.
DST Global led the round, which also included Hillhouse Capital, Sequoia Capital China, Fuse Venture Partners, Translink Capital and Aspex Management. The company did not confirm its valuation but reports suggested it may have achieved unicorn status.
Market Kurly operates an online supermarket that offers products ranging from fresh produce, dried goods and drinks to hygiene products and pet food to small household appliances.
The series E funding will enable the company to establish a fulfilment centre in Seoul that is 2.5 times larger than the company’s current facilities. Market Kurly will also increase its headcount and look to acquire more customers.
The company has now raised ₩420m ($328m at current exchange rates), it said. It previously closed a $113m series D round in May 2019, consisting of an $88m first tranche led by Sequoia Capital China and a $25m extension led by Hillhouse Capital.
SK Networks, Fuse Venture Partners and Translink Capital were identified as returning investors for the series E round, but details about their earlier commitments could not be ascertained.
