South Korea-headquartered pizza model GOPIZZA raised $25 million (Rs 200 crore) in a Sequence C funding spherical co-led by GS Ventures, CJ Funding, Mirae Asset Securities, NCORE Ventures, Woori Financial institution, Capstone Companions, Huge Basin Capital, DS Asset Administration, and Pureun Funding.
The model will use the recent capital for growth plans in India, backed by new-age robotic and AI applied sciences.
Mahesh Reddy, CEO of GOPIZZA India, mentioned, “The funding will enable us to massively scale our operations throughout the nation and additional cement our place within the Indian market to turn into the pan-India market chief within the phase. We purpose to launch 100 shops by 2023. The funds can even be deployed to carry the model’s famed expertise to all retailers in India, offering speedy and superior high quality pizzas.”
GOPIZZA—which makes one-person, oval-shaped, fire-baked pizza—has 160 retailers throughout South Korea, Singapore, Indonesia, India, and Hong Kong.
In India, the model has 15 retailers and can open its first retailer in Hyderabad subsequent month. The model goals to succeed in 25 retailers by the tip of 2022, and over 100 shops by 2023.
The only-serving pizza model can even introduce its patented in-house expertise GOVEN — an computerized pizza oven, GOBOT — a cooperative robotic, and its AI Sensible Topping Desk — to make sure standardised high quality.
Within the subsequent few years, GOPIZZA will set up retailers in Pune, Chennai, Delhi, Mumbai, Hyderabad, Ahmedabad, Kolkata, and a few key Tier II cities, together with Chandigarh, Jodhpur, Jaipur, and Kochi. Globally, the model goals to foray into Thailand, Malaysia, Vietnam, and the US.
In 2019, GOPIZZA opened its first Indian outlet in Bengaluru, providing one-person pizzas of superior high quality at aggressive costs.
The model had beforehand raised $20 million in funding from Woori Financial institution, Capstone Companions, Huge Basin Capital, DS Asset Administration, and DSC Funding.