The Mamma Selected as a 'Promising Leading Company in Seoul's 4 Major Future Growth Industries'

[Asia Economy Reporter Yoo Hyun-seok] TheMamma announced on the 15th that it has been selected as a ‘Seoul 4 Major Future Growth Industry Promising Leading Company’ by the Seoul Metropolitan Government and the Small and Medium Business Corporation (SBC).

The Seoul Metropolitan Government and SBC designated outstanding companies among those operating in the four major future growth industries selected by Seoul as promising leading companies. The four major future growth industries in Seoul are ▲Digital Cultural Content ▲Bio & Medical ▲Fashion & Smart Textiles ▲Intelligent ICT.

Among the unlisted and KONEX small and medium venture companies operating in these four major future growth industries, some that meet two or more of the five criteria presented by the Seoul Metropolitan Government and SBC were selected as promising leading companies this time.

The five criteria are ▲Companies with excellent growth potential ▲Companies with direct export performance in the past year ▲Companies with employment creation plans or achievements ▲Companies recognized by the private sector for excellent technology and growth potential (companies attracting external investment) ▲Companies recognized by the government and accredited institutions for excellent technology (companies participating in government R&D projects, holding patents, etc.).

Selected companies receive up to 6 billion KRW in working capital and facility funds from SBC. In addition, they receive services such as consulting, technical support, and marketing vouchers worth up to 50 million KRW.

TheMamma was selected as a promising leading company in the Intelligent ICT field. It met all criteria except for one related to export performance among the five criteria.

Sales, which were around 800 million KRW in 2017, increased rapidly to 1.1 billion KRW in 2018, 18.2 billion KRW in 2019, and 66.2 billion KRW last year. Recognizing this growth potential, it has attracted cumulative investments of about 20 billion KRW so far. In July last year, it was selected as a preliminary unicorn by SBC and received funding support totaling around 7 billion KRW.

In addition, it holds 5 records of participation in government research and development projects, 2 registered patents, 7 patent applications, and 27 industrial and intellectual property rights. A representative of TheMamma said, “Regarding export performance, the impact of COVID-19 has so far been an obstacle to overseas expansion,” adding, “Once COVID-19 ends, overseas expansion will accelerate.”

Meanwhile, TheMamma, established in 2016, is an online food ingredient purchasing service company. It has franchises with local marts nationwide and provides neighborhood mart shopping and 2-hour delivery services through the ‘MammaMeokja’ app. It also operates directly managed marts in major cities. It plans to raise 100 billion KRW in Series C investment in the second half of this year and complete an initial public offering (IPO) next year.

This content was produced with the assistance of AI translation services.