Barogo Secures 50 Billion KRW Investment from Private Equity Firm Keystone to "Drive New Business"

[Asia Economy Reporter Kim Bo-kyung] Barogo, a last-mile logistics IT platform, announced on the 13th that it has successfully secured an investment of 50 billion KRW from the private equity fund (PEF) management company Keystone Partners. This investment is a follow-up to the recently conducted Series C Bridge investment.

After securing 90 billion KRW in funding last year, Barogo succeeded in raising additional investment at the beginning of the new year. Starting with an 80 billion KRW Series C investment raised in June last year from 11st, CJ Group, LB Investment, Stick Ventures, Premier Partners, YG Investment, and Shinhan Venture Investment, Barogo also secured a 10 billion KRW Series C Bridge investment in December from Pacific Bridge Asset Management and others.

A Barogo representative stated, "This relay investment shows that Barogo’s stability and growth potential are highly valued as it simultaneously achieves organic growth and external expansion in the last-mile delivery market."

Barogo plans to use the investment funds to drive new business expansion. The company intends to invest in and carry out mergers and acquisitions (M&A) to build a hyper-connected ecosystem and expand new businesses. In particular, it will actively expand the quick commerce Tengo business, which has been in pilot service since August last year.

A Barogo representative said, "Since June last year, we have successfully completed investment fundraising totaling 150 billion KRW," adding, "Going forward, Barogo will create an ecosystem that connects everything needed for daily life and business to support mutual growth and development."

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