This funding round was led by existing investors including Aspex Management, DST Global, Sequoia Capital China and Hillhouse Capital, and new investors including Millennium Management and CJ Logistics Corporation.
With funds from this round, Kurly plans to further advance its service technology and improve operational efficiency. According to the official press release, from innovating automated supply chain systems to augmenting ordering and payment platforms, Kurly is pinpointing its focused approach at ecommerce fulfilment to satisfy customer demands.
In addition, Kurly plans to invest in its logistics infrastructure and the expansion of its geographical footprint. In March 2021, the company established its logistics facilities at Gimpo fulfilment center. Also, Kurly has broadened its coverage of overnight delivery services to cities in Chungcheong province and targets to introduce its feature services to Southern provinces in Korea later in 2021 to further its geographic footprint and reach new customers throughout Korea.
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