Onnuri Store Completes Series A Funding Round Worth 27 Billion KRW

CEO Park Hyosu of Onnuri Store. [Photo by Onnuri Store]

[Asia Economy Reporter Lee Gwanju] Comprehensive healthcare platform Onnuri Store announced on the 27th that it has completed its Series A funding round with a total of 27 billion KRW by securing an additional investment of 12 billion KRW.

Onnuri Store raised 15 billion KRW in Series A funding this March from Union Investment Partners, Quad Asset Management, and Login Investment. Subsequently, Kyobo Securities and KB-Soliders Healthcare Investment Association contributed an additional 12 billion KRW, completing the fundraising within 7 months.

Onnuri Store, the official online mall of Onnuri Pharmacy, the largest pharmacy chain in Korea, has been achieving monthly sales exceeding 2 billion KRW on average since its launch in October 2019. Based on exclusive import distribution rights for well-known overseas healthcare brands such as Therabreath, Childlife, and Xylimelts, it also offers PB (Private Brand) functional hair loss products and children's multivitamins that reduce price burdens.

Onnuri Store plans to expand its scope beyond a simple sales channel to become a platform providing high-quality health information content and personalized health management solutions. To this end, it will focus on IT system and healthcare content development, expanding exchanges with global brands, and developing additional PB products.

Park Hyosu, CEO of Onnuri Store, said, "The proven global product sourcing capabilities and health and customer-related data from its affiliate Onnuri Pharmacy seem to have been highly evaluated, as the company has maintained double-digit annual sales growth rates,” adding, “It is significant to have secured additional investment amid a sharp contraction in investment sentiment due to recent global macroeconomic uncertainties.”

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