GOPIZZA, a pizza company based in South Korea, raised USD 25 million (Rs 200 crore) in a Series C funding round led by GS Ventures, CJ Investment, Mirae Asset Securities, NCORE Ventures, Woori Bank, Capstone Partners, Big Basin Capital, DS Asset Management, and Pureun Investment.
The new capital will be used to fund expansion plans in India, which will be supported by cutting-edge robotic and AI technologies.
“The funding will allow us to massively scale our operations across the country and further cement our position in the Indian market to become the pan-India market leader in the segment,” said Mahesh Reddy, CEO of GOPIZZA India. By 2023, we hope to have opened 100 stores. The funds will also be used to bring the brand’s renowned technology to all outlets in India, allowing for faster and higher-quality pizzas.”
GOPIZZA, specializing in one-person, oval-shaped, fire-baked pizza, operates in 160 locations in South Korea, Singapore, Indonesia, India, and Hong Kong.
The brand has 15 stores in India and will open its first store in Hyderabad next month. The brand hopes to have 25 locations by the end of 2022, and over 100 by 2023.
To ensure consistent quality, the single-serving pizza company will introduce its patented in-house technology GOVEN — an automatic pizza oven, GOBOT — a cooperative robot, and its AI Smart Topping Table.
GOPIZZA plans to open locations in Pune, Chennai, Delhi, Mumbai, Hyderabad, Ahmedabad, Kolkata, and some key Tier II cities such as Chandigarh, Jodhpur, Jaipur, and Kochi over the next few years. The brand intends to expand globally into Thailand, Malaysia, Vietnam, and the United States.
GOPIZZA opened its first Indian location in Bengaluru in 2019, offering superior one-person pizzas at competitive prices.
Woori Bank, Capstone Partners, Big Basin Capital, DS Asset Management, and DSC Investment had previously invested USD 20 million in the brand.
GOPIZZA, founded in 2016 by Jae Won Lim, is known for its one-person, oval-shaped, fire-baked pizza, and has 160 locations in South Korea, Singapore, Indonesia, India, and Hong Kong.
Lim, the CEO of GOPIZZA:
India is a critical market for us, and most of our investment will be directed there, where we intend to open more than 100 stores by 2023. “We are very excited to bring the Korean vibe and our cutting-edge food technology to the world’s fastest-growing market.”
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