GOPIZZA, a pizza company based in Korea, has raised $200 million. CJ Investment, Mirae Asset Securities, NCORE Ventures, Woori Bank, Capstone Partners, Big Basin Capital, DS Asset Management, & Pureun Investment led the Series C fundraising round.
This additional funds would be used to fund aggressive growth ambitions in the nation, which will be supported by cutting-edge robotics and AI technology.
GOPIZZA is well with its each, oval-shaped, fire-baked pizza, which is served quickly and at a reasonable price.
It operates 160 stores in S. Korea, Singapore, Indonesia, India. The company has 15 stores in India and will launch its first location in Telangana next month. The company hopes to have 25 locations even by year of 2022 and much more than 100 retail by 2023.
To provide fast, uniform quality and service to consumers at all locations, the single-serving pizza company also will offer its patented in-house technologies - The GOVEN, an autonomous pizza oven, the 'GOBOT,' a cooperative robot, as well as the 'AI Smart Topping Table.'
"The money received will help us to substantially extend our activities across the nation and further solidify its position in Indian industry with an effort to be the hot skillet industry leader in the field," says Mahesh Reddy, CEO of GOPIZZA India. Our long-term goal is to open 100 locations by 2023.
Since its beginning, the brand's approach in India has been adapted to the preferences of the market, with a specific menu that differs from those of Korea and Singapore. GOPIZZA plans to open locations in Pune, Chennai, Delhi, Mumbai, Hyderabad, Ahmedabad, Kolkata, and several significant Tier 2 cities such as Jaipur,Jodhpur and Kochi within the next few years.
Internationally, the company will expand into new markets such as Thailand, Malaysia, Vietnam, and the United States.
"Owing to our remarkable performance in the previous few years, we are thrilled to announce a large amount of fundraising," says Jae Won Lim, CEO and founder of GOPIZZA.
India is just a critical market for all of us, as well as the majority of our investment will be dedicated there, where we intend to open more than 100 outlets by 2023. We are really delighted to introduce the Korean mood and our cutting-edge culinary innovation to the world's fastest-growing market."
GOPIZZA's first store in India launched in Bangalore in 2019, serving top quality one-person pizzas at cheap costs.
DSC Investment And DS Asset Management have already invested $20 million USD in the company.
Because of the enormous popularity of the these egg shape pizzas, he opened his first shop ln South Korea early 2017, and GOPIZZA has enjoyed spectacular development across five countries including over 160 outlets since then.
The Korean company, with its distinct twist on pizza, now seeks to make it a single-serving meal, with a goal of expanding to more than 300 sites in the next two years, making it a global pizza chain.
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