Market Kurly raises additional US$29.4 million from China’s private equity fund Hillhouse Capital and closes a US$ 113.4 million series D funding round.
Kurly, the operator of Market Kurly, plans to to use fresh capital on advancing its logistics system, enhancing supply chain and hiring more employees to maintain service quality.
Market Kurly launched in May 2015 and introduced industry-first full cold chain system. Its signature early morning delivery service delivers products by 7 am of the next day if ordered before 11 pm. The app provides uniquely curated high quality food products.
Hillhouse Capital, the China’s largest global investment company, invested in China’s Tencent and on-demand food delivery firm Meituan-Dianping, as well as Korea’s biggest food delivery app Baedal Minjok.
Based on the article by Platum