South Korean reusable container circular solution startup The Greet has closed a Series B funding round of KRW 12 billion, exceeding its initial target of KRW 10 billion thanks to strong follow-on participation from existing investors and active commitments from new ones.
LB Investment served as the lead investor. Existing investors including Korea Investment Partners, Korea Investment Value Asset Management, SBI Investment, Samsung Securities, Behigh Investment, Kiwoom Investment Asset Management, and GS Ventures all made follow-on investments in this round. D3 Jubilee Partners joined as a first-time investor. A portion of shares held by early investors were also exited during the round, while new shares were issued to incoming investors.
The Greet’s total cumulative funding now stands at KRW 19.4 billion, which includes a seed round of KRW 300 million in April 2022, a Pre-Series A of KRW 500 million in September 2022, and a Series A of KRW 6.6 billion in October 2023.
Founded in 2021, The Greet offers a full-cycle reusable container management solution. Its containers are made from reproducible materials that produce zero waste, and each unit is equipped with a QR code for comprehensive tracking and management.
The company also operates return kiosks featuring over-the-air (OTA) update technology, along with washing facilities capable of processing more than 650,000 containers per day.
CEO Yang Woo-jeong stated that the funding provides the foundation to fully execute the company’s expansion plans, with key priorities including entering overseas markets this year and successfully launching a new washing center in Jeju Island, which is targeting operations by early March. He added that the company remains committed to realizing its vision of “a world where disposables are unnecessary.”
With the Series B now closed, The Greet has begun searching for an underwriter for a future IPO, currently holding meetings with several securities firms. The company is targeting a public listing in 2028.
