Funding round
Kurly Series F
Kurly, which works in healthy food ingredient retail in South Korea, raised $200M in a Series F round announced on 9 Jul 2021, led by Aspex Management, DST Global, HSG and Hillhouse, at a $2.20B post-money valuation. 6 firms took part, 4 of them already investors. It is Kurly's fourth venture round on record; the one before was a Series E in Apr 2020.
$200M
Amount raised
$2.20B
Post-money valuation
$2.00B pre-money
6
Investors
4 leads
2.8x
Step-up from the Series E
$780M in Apr 2020
9.1%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Kurly at $2.20B after the new money, 2.8 times the $780M of its Series E (Apr 2020). The $200M bought investors about 9.1% of the company. It came 15 months after Kurly's Series E. It is 31% of the $648M Kurly has raised in the venture rounds on record. Kurly raised again 5 months later: a Growth round of $210M in Dec 2021, at $3.30B post-money.
Kurly's funding rounds
Kurly has 5 venture rounds on record. This one is highlighted.
- Series C 20 Sep 2018, led by DST Global amount not disclosed
- Series D 1 Apr 2019 $88M
- Series E 8 Apr 2020, led by DST Global $150M$780M post-money
- Series F this round 9 Jul 2021, led by Aspex Management, DST Global and HSG $200M$2.20B post-money
- Growth 19 Dec 2021, led by Anchor Equity Partners $210M$3.30B post-money
Investors
Who put money in
Aspex Management, DST Global, HSG and Hillhouse led the round with 2 other firms. Aspex Management, DST Global, HSG and Hillhouse had backed Kurly before.
Lead investors
- Aspex Management existing investor
- DST Global backs 179 venture-backed companies existing investor
- HSG backs 118 venture-backed companies existing investor
- Hillhouse backs 54 venture-backed companies existing investor
Also in the round
- backs 7 venture-backed companies new investor
- CJ Logistics Corporation new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: Series F rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Rappi Groceries Delivery | 1 Jul 2021 | $500M | $5.25B | T. Rowe Price |
| Meat, Fish & Seafood Stores | 2 Jul 2021 | $192M | $650M | Temasek and Multiples |
| Tech Companies | 28 Jul 2021 | $175M | $3.00B | Tiger Global |
| Arctic Wolf Tech Companies | 13 Jul 2021 | $150M | $4.30B | Viking Global and Blue Owl Capital |
| Tech Companies | 27 Jul 2021 | $150M | $2.60B | B Capital |
| ShareChat Tech Companies | 27 Jul 2021 | $145M | $2.88B | Temasek and Moore Strategic Ventures |
| Tech Companies | 29 Jul 2021 | $100M | $1.50B | TDM Growth Partners and HSG |
| Neo4j Tech Companies | 17 Jun 2021 | $325M | $2.00B | Eurazeo |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Kurly raise in its Series F round?
Kurly raised $200M in its Series F round, announced in Jul 2021.
Who led Kurly's Series F round?
Aspex Management, DST Global, HSG and Hillhouse led it, with Millennium Management and CJ Logistics Corporation.
What was Kurly's valuation at the Series F round?
$2.20B post-money ($2.00B pre-money).
Did Kurly raise again after this round?
Yes: a Growth round in Dec 2021 of $210M at $3.30B post-money.