B2B in-house regular meal brand 'Lunchlab' announced on the 16th that it had attracted a total of 800 million won in investment in the pre-A round. This round was led by Los Angeles (LA)-based venture capital firm Strong Ventures, with global investment firm 500 Global jointly participating.
Lunch Lab is a company-specific regular lunchbox startup that provides regular delivery of boxed lunches to companies and a full-service service including dish collection. Currently, based on data from about 140 menus, it provides three types of boxed lunch menus every day and supports a convenient ordering environment through a dedicated application. It operates as an 'all-in-one' system that includes free delivery and dish collection services, and recently, demand for small-scale in-house group orders has also been increasing.
The investment raised this time will be used to ▲strengthen production capacity by expanding direct production bases ▲expand logistics networks covering all of Seoul ▲improve IT infrastructure and user experience (UX). In addition, in addition to the existing single-type lunch box products, the company plans to respond to diverse in-house meal demands by adding buffet-style catering and premium lineups.
CEO Kim Sung-soo said, “Through this investment, we have laid the foundation to further enhance service quality and operational capabilities and maximize customer satisfaction,” adding, “In a rapidly changing restaurant environment, Lunch Lab will establish itself as the industry standard for providing sustainable in-house meal solutions.”
CEO Kim explained the background of his founding, saying, “Based on my positive experience with the in-house meal service I introduced while working at a startup, I was able to confirm the market structure in the early stages of industrialization and decided to start a business, judging it as a business opportunity.”
Hyungwoo Park, an appraiser at Strong Ventures who led this investment, said, “Lunch Lab is a team that is practically solving the welfare issues of restaurants based on high operational efficiency and supply capacity,” and “We highly evaluated the potential to industrialize the niche market of regular lunch meals.”
500 Global’s Guhyeonmo Simsa said, “This investment is a testament to the execution capabilities of the Lunch Lab team,” adding, “We also anticipate the possibility of expansion into related fields such as food distribution and meal kits in the future.”
Strong Ventures has made early investments in companies such as Carrot Market and Class 101, while 500 Global is a multi-stage investment firm with a portfolio of global unicorn companies such as Canva and Grab, and has invested in over 90 startups in Korea, including Pinda and Spoon Radio.
- See more related articles
You must be logged in to post a comment.