Hello Nature, an online fresh produce platform connects producers directly with their consumers. On the 30th December, the company revealed that a ‘Series B’ investment amount of US$2.1m (KRW 2.5b) was confirmed from GS Home Shopping and Fast Track Asia.
This is the second successful investment into Hello Nature following last year’s investment of US$1.6m (KRW 1.9b) by Softbank Ventures and Mirae Assets.
The investment was made possible following the rapid growth of the fresh produce market coupled with Hello Nature’s leading position in the sector.
Hello Nature commenced their service in 2012 after utilizing their existing network of over 800 fresh produce suppliers. Through these suppliers, the company was able to provide over 1,000 fresh produce items directly to the consumer through their online platform. The service became popular and currently Hello Nature has grown 10 fold in annual revenue since its launch.
The investment fund will be used by Hello Nature to become the ‘Amazon Fresh’ of the Korean market. The company aims to increase the number of new users as well as improve distribution networks. As a trial, Hello Nature has been offering direct shipping to 8 regions of Seoul. This direct shipping service is expected to be offered to the wider are of Seoul. There are also plans to provide an export service to other Asian countries for premium products from Korea.