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August 26, 2019

Same-day seafood delivery service Onul-Hoi bags W4b series A funding

PUBLISHED : August 07, 2019 - 14:52

UPDATED : August 07, 2019 - 14:52

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South Korean same-day seafood delivery service app Onul-Hoi has secured 4 billion won ($3.3 million) in series A funding from multiple investors to expand its delivery service and carry out marketing, according to the startup on Aug. 7.

Korean venture capital firms KTB Network and Korea Investment Partners as well as existing investors Daesung Private Equity and Soorim Venture Capital joined the round.

This came eight months after the startup received a combined 800 million won for the seed funding round. 

Onul-Hoi, loosely translated as “raw fish for today,” is operated by Seoul-based startup Onul-Shiktak, meaning “dish on a table for today.”

The mobile app allows users in the Seoul metropolitan area to have seafood in season delivered to their doorsteps by dinner time, if the order was placed earlier in the day. Before the delivery, the startup makes retail purchases from remote fishing villages across the 100,000-square-kilometer wide nation.

Since the launch of the service in March 2017, the number of Onul-Hoi’s monthly active users has reached 350,000 as of June this year, while the repurchase rate came to 35 percent.

By Son Ji-hyoung (consnow@heraldcorp.com)

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