GoPizza Secures 25 Billion KRW Series C Investment... 150 Billion KRW Valuation

Mirae Asset Securities, GS Ventures, CJ Investment, and Encore Ventures Newly Participate
Expecting Growth of Global B2C Brands Based on Food Tech Technology

[Asia Economy Reporter Kwangho Lee] GoPizza secured ample investment funds by attracting a large number of new investors despite the investment winter.

GoPizza announced on the 22nd that it recently completed a Series C investment round worth 25 billion KRW. This round included many participants such as new shareholders Mirae Asset Securities, GS Ventures, CJ Investment, Encore Ventures, as well as existing shareholders Capstone Partners, DS Asset Management, and Big Basin Capital. As a result, GoPizza's total cumulative investment amount increased to 45 billion KRW. The post-investment corporate valuation was recognized at 150 billion KRW.

Heo Jun-nyeong, CEO of GS Ventures, said, "GoPizza is a global B2C brand actively expanding overseas by creating products that consumers want based on solid food tech capabilities. We invested with the expectation that GoPizza can collaborate with the GS Group in various ways both domestically and internationally."

GoPizza is a single-serving pizza specialty brand started in 2016 as a food truck by CEO Lim Jae-won, who majored in Management Engineering at KAIST. Unlike existing pizza brands, CEO Lim dreamed of a 'McDonald's of the pizza world' with a high store turnover rate and made efforts such as directly developing the 'GoOven,' a pizza oven for baking single-serving pizzas.

Since then, GoPizza was the only dining company selected as a 'Baby Unicorn' by the Ministry of SMEs and Startups in 2020, and this year was named one of the 'Asia-Pacific High-Growth Companies' by the UK Financial Times.

As of this month, GoPizza's number of domestic stores is rapidly increasing to 107. It is especially evaluated that entering the multiplex CGV was effective. The company has also expanded its territory overseas. Since 2017, it has entered overseas markets such as Singapore and India and currently operates about 160 stores in five countries. In Singapore, it ranked second in the market following the global brand 'Pizza Hut.'

Lim Jae-won, CEO of GoPizza, emphasized, "Through this investment attraction, we will accelerate fast and organic growth and establish ourselves as a national representative brand that achieves success in global business."

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