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Barogo to use 80 billion won funding in putting up storage facilities

Friday, June 11, 2021 11:28 AM UTC

Delivery platform operator Barogo has secured 80 billion won through its series C funding round, surpassing the firm’s initial target of 50 billion won.

Barogo will use the amount to establish storage facilities to deliver products ordered online across Seoul and its surrounding cities. It is set to hire 100 new employees, including developers and those in nontechnical sectors, to advance the company’s delivery services.

Among those that joined the funding round as strategic investors were e-commerce firm 11st, which poured in 25 billion, and retail conglomerate CJ Group, which allotted 10.5 billion won.

Other financial investors are Korea Investment Partners, YG Investment, LB Investment, STIC Ventures, and Shinhan Venture Investment.

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Barogo to use 80 billion won funding in putting up storage facilities

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