Daebong Distribution (CEO Choi Jae-hyeok), which operates a data-based agricultural product brokerage platform, announced on the 1st that it had attracted seed investment from Mashup Ventures and ZDVC.
Daebong Distribution is a startup founded to address the instability of the highly volatile agricultural product distribution system. It utilizes machine learning-based algorithms to analyze data such as production unit price, quality, and shipment volume, and then recommends optimal suppliers based on this analysis. Furthermore, Daebong Distribution minimizes risks in the distribution process by proactively predicting price and quality changes based on seasonal, weather, and market conditions.
Daebong Distribution has continued its rapid growth, securing approximately 5,000 distribution clients and partner farms in just two years and surpassing KRW 5 billion in cumulative transaction volume. Recently, in recognition of its agricultural product distribution management expertise, the company was selected for the Ministry of SMEs and Startups' Technology Incubation Program (TIPS), securing KRW 500 million in research and development (R&D) funding.
Daebong Distribution plans to use this investment to hire additional key personnel in development, operations, logistics, and sales, and to expand its business beyond its existing online-based services to offline channels.
“Daebong Distribution’s approach, which combines a deep understanding of the agricultural product distribution sector with data technology, is expected to contribute to innovation in distribution structures and revitalization of the rural economy,” said Seung-Guk Lee, partner at Mashup Ventures, which led the investment.
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