Kukka announced that it succeeded in attracting $3 billion Korean Won (KRW) of Series A investment from KB investment, Aju IB Investment Co. Ltd., and SBI Investment Korea.
Kukka is a flower start-up which was established in 2014. It has more than 30,000 flower subscribers as it provides regular flower subscription services every 2 weeks. Currently it has more than 50,000 monthly subscribers. It began with a starting capital of 1,000 KRW and has been in the black for 4 years. Last year, its annual sales surpassed 5 billion KRW.
Kukka plans to establish itself as a dominant flower brand in the segmented flower market while proactively providing B2B flower services to corporate clients. Kukka recently entered into 1 billion KRW service agreement with major companies such as Samsung Electronics, Hyundai Department Store and Amorepacific.
The CEO of Kukka, Park Chun-hwa said that he “focused on proving that innovations can be made in the flower industry over the past 4 years” and added “The investment we attracted will serve as a good lubricant in transforming the Korean consumer floral market into a mass market, such as for coffee and cosmetics.