ChulGaBang, developed by HelloWorld, is an integrated platform for managing deliveries and operations of small-to-medium sized food companies. SBI Investments Korea, HB Investment, and Sejong Venture Partners have invested a total of USD $2.7M in the recent round. The phrase "chul gabang" means "bag made of iron" and, as the name suggests, ChulGaBang's deliverers sport a metal case that is mounted onto scooters and used for delivering food.
HelloWorld has integrated the processes of placing orders, receiving orders, delivering and point-of-sale transactions through a single operating platform. Both desktop and mobile versions are supported.
Founded in 2011, it has now been over four years since HelloWorld's foray into B2B transaction applications.
Unlike other O2O food delivery startups that focus on B2C and the potential market, ChulGaBang has diverted its energy to getting feedback from real food businesses to pinpoint the issues they encounter and to provide solutions for them.
Medium-sized food businesses have the potential to branch out further into providing food delivery services, supply food products to businesses, and run logistics that are essential to the operation of food businesses. Already the company is planning a model that incorporates different features for food companies.
Lee In Jik, the team leader at SB Ventures, led this investment. Mr Lee explained that, “HelloWorld’s ChulGaBang not only provides essential services required to connect businesses with a food delivery management platform, but also provides solutions to real problems that are faced by food businesses.” Through this investment, the firm hopes to support ChulGaBang's expansion in the O2O market.