Thao Lam La · · 1 min readKorean grocery unicorn Market Kurly partners with RedMart to enter SG
Market Kurly, a South Korea-based online grocery startup, is bringing its services to Singapore, Bloomberg reported. The company will sell its products on RedMart, the grocery service of Alibaba-owned Lazada.
Starting today, customers in Singapore can order Market Kurly’s ready-to-cook and ready-to-eat meals on the RedMart app. The firm currently offers 44 products, including snacks and soba noodles from Gwanghwamun Mijin, a Michelin-star restaurant.
Market Kurly CEO Sophie Kim told Bloomberg that the startup will gradually grow its product catalog to include chilled food and non-food products in the future.
The expansion is the first overseas foray by the South Korean company. Kim added that Singapore is “a melting pot of culture and food,” and by partnering with RedMart, her company will be able to leverage the Lazada-owned platform’s experience and scope for future product launches.
Market Kurly was founded in 2015 by Kim, a former consultant at McKinsey and Bain. The platform lets users order foods and groceries online and receive them the following morning. It was the first Korean grocery startup to reach unicorn status.
The company is preparing for an IPO on the Korea Exchange. To date, it has racked up over US$700 million in funding.
See also: RedMart’s revenue revives after year of stagnation
Editing by Miguel Cordon and Lorenzo Kyle Subido
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