GOPIZZA Raises INR 200 Cr In Series C Funding For Expansion In India The fresh capital will be utilized for aggressive expansion plans in the country, backed by new-age robotic and AI technologies, said a statement
By Soumya Duggal •
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Korea-headquartered pizza brand GOPIZZA has raised INR 200 crore in a Series C funding round co-led by GS Ventures, CJ Investment, Mirae Asset Securities, NCORE Ventures, Woori Bank, Capstone Partners, Big Basin Capital, DS Asset Management, and Pureun Investment.
The fresh capital will be utilized for aggressive expansion plans in the country, backed by new-age robotic and AI technologies, said a statement.
With 160 outlets across South Korea, Singapore, Indonesia, India, and Hongkong. In India, the brand has 15 outlets and is opening its first store in Hyderabad next month. The brand aims to reach 25 outlets by the end of 2022 and more than 100 stores by 2023. The single-serving pizza brand will also introduce its patented in-house technology, The GOVEN (an automatic pizza oven), the 'GOBOT' (a cooperative robot), and the 'AI smart topping table' to ensure timely, standardized quality and service to customers at all outlets.
"The funding raised will allow us to massively scale our operations across the country and further cement our position in the Indian market in an aim to become the pan-India market leader in the segment. Our expansion plan is to launch 100 stores by 2023. The funds will also be deployed to bring the brand's famed technology to all outlets in India providing speedy, superior quality pizzas that GOPIZZA is known for and loved by customers worldwide," said Mahesh Reddy, CEO, GOPIZZA India.
"Owing to our great performance in the last few years, we are delighted to announce a big round of funding. India is a key market for us and a majority of the investment will be directed to the Indian market where we plan to expand to more than 100 stores by 2023. We are very excited to bring the Korean vibe and our state-of-the-art food technology to the fastest-growing market in the world," said Jae Won Lim, founder and CEO, GOPIZZA.
The brand has previously raised 20 million USD in funding from Woori Bank, Capstone Partners, Big Basin Capital, DS Asset Management, and DSC Investment.
