Korea pizza chain raises $25m for India push

GS Ventures, CJ Investment, Mirae Asset Securities, Ncore Ventures, Woori Bank, Capstone Partners, Big Basin Capital, DS Asset Management, and Pureun Investment participated in the round. It follows an approximately USD 10m Series B last year from Woori, Capstone, Big Basin, DS Asset, and DSC Investment.

Gopizza focuses on speed and affordability with distinctive single-serve oval-shaped pizzas marketed as kiln-baked. It has about 160 locations across Korea, Singapore, Hong Kong, Indonesia, and India.

Localised menus and the use of technologies such as robotics and artificial intelligence are part of the strategy. Tech applications mostly revolve around the automation of ovens and pizza assembly processes.

The India footprint comprises 15 locations. The plan is to open 100 stores in the country before the end of next year. This will include a significant focus on tier-two cities such as Chandigarh, Jodhpur, Jaipur and Kochi. There are also longer-term plans to expand into Thailand, Malaysia, Vietnam, and the US.

There is an expectation that organised, brand-name food outlets will outpace mom-and-pop competitors in India amid pandemic-driven anxiety about food and restaurant hygiene.

Notable activity in this vein includes Creador, NewQuest Capital Partners, and TR Capital investing in Indian fast-food franchisee operator Sapphire Foods and divesting within three months in a USD 277m domestic IPO that doubled expectations for an exit valuation. Sapphire's business includes Pizza Hut. 

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• Topics
• North Asia
• South Asia
• Consumer
• Expansion
• South Korea
• India
• Food
• Capstone Partners