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D2C Foodtech Startup raises KWR 40 billion

sungho-choo - 2024 April 1

Jeongyookgak, a D2C food-tech startup, has successfully secured KRW 40 billion in funding. The investment of KRW 10 billion was completed, and the KRW 30 billion in short-term loan, incurred during the acquisition of the eco-friendly food e-commerce platform Choroc, were converted into long-term acquisition financing.

This refinancing and investment have alleviated Jeongyookgak’s pressure from short-term repayments. The company now plans to concentrate on enhancing the profitability of Choroc, which it acquired two years ago, with the goal of transforming it into a profitable entity.

Jeongyookgak was established in 2016 as an online D2C startup specializing in the delivery of freshly slaughtered pork, guaranteeing delivery within one to four days.


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