Q Market, an online grocery same-day delivery platform operated by Azwemake, announced on the 5th that it had attracted 10 billion won in Series C investment. New investors LB Investment, Partners Investment, and Wonik Investment Partners participated in this investment, and existing investor A Ventures also conducted a third follow-up investment. This was done just six months after attracting 11 billion won in Series B investment in September of last year.
In addition to the financial investors who have currently completed their payments, strategic investors (SIs) from large and medium-sized companies are considering additional investment participation, and through cooperation with them, we plan to advance retail tech.
LB Investment’s Director Jang Hong-seok said, “While digital transformation (DX) is rapidly progressing in the consumer goods market, the online transaction rate in the food and beverage sector still stands at 18%, leaving ample room for growth.” He added, “We expect Azwemake to establish itself as a leader in this field, and we highly evaluate its potential to grow into a unicorn company like Swiftly in the U.S.”
This investment will be used for sales and marketing to secure affiliated marts and customers, mergers and acquisitions (M&A) to enhance the value chain, etc. It will also be used for paid R&D such as AI-based dynamic pricing using transaction data within Qmarket Partners, purchase automation solutions, and provision of monthly analysis reports.
Son Soo-young, CEO of Azwemake, said, “I would like to express my deepest gratitude to investors such as Aventures for their continued investment and LB Investment, which has newly joined us,” and added, “The core of the digital transformation of food marts lies in integrated online and offline product management, securing sales channels, providing convenient delivery services, and inducing repeat visits. We will grow into a company recognized not only in Korea but also in the Asian market.”
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