The Onion (CEO Choi Jong-seok), a startup operating a direct fulfillment service for agricultural products, announced on the 29th that it has secured a pre-A follow-up investment from New Paradigm Investment. This is the second follow-up investment, following the pre-A round in November 2023, and was conducted solely by New Paradigm Investment.
DearOnion aims to address inefficiencies in the food distribution structure through its data-driven, local group purchasing solution, "Parado." Using AI-powered price volatility analysis and a local group purchasing system, DearOnion supports restaurant businesses in reducing costs and ensuring stable supply and demand, while helping producers improve profits and expand sales channels through direct transactions.
Currently, Deonion has partnerships with over 30 production sites nationwide and has established a data center to provide advanced information such as real-time price analysis, product-specific stock trends, and shipping patterns.
Park Jae-hyun, co-CEO of New Paradigm Investment, which executed this investment, commented, "Dear Onion is rapidly pursuing a data-driven structural transformation in the agricultural and food distribution market and is achieving meaningful results in the B2B food distribution sector." He added, "The team has the capabilities to lead the digital transformation in the approximately 64 trillion won domestic food distribution market."
With this investment, Deonion plans to accelerate the advancement of its agricultural and food vertical data center and related analysis technology. In the mid- to long-term, it aims to expand into a vertical agricultural and food platform encompassing distribution, manufacturing, and data services.
“This follow-up investment is a comprehensive recognition of our marketability, execution capabilities, and potential as a technological alternative,” said Choi Jong-seok, CEO of Deonion. “We will build a sustainable structure where agriculture and the restaurant industry benefit from each other through a data-driven distribution ecosystem.”
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