Investment Decision Made in Light Brothers, the Only Domestic Company with Bicycle X-RAY Inspection Technology
Hong Jun, CEO of Junggonara (left), and Kim Hee-su, CEO of Light Brothers, are posing for a commemorative photo after signing the investment contract.
[Asia Economy Reporter Kwak Min-jae] Used goods trading platform Junggonara announced on the 7th that it has signed an investment contract with the bicycle lifestyle platform Light Brothers. Junggonara, together with Lotte Ventures, invested 4 billion KRW in Light Brothers. Light Brothers is currently raising an additional 6 billion KRW in investment.
Light Brothers is a company that introduced an X-ray inspection system that detects invisible repair histories. Based on its technological capabilities, it provides used goods trading services by inspecting and certifying premium bicycles. Last year, through certified used bicycle sales and consumer-to-consumer (C2C) transactions, the transaction volume grew by more than 2000% compared to the previous year, and sales increased by about 280%.
Junggonara expects this strategic investment to be a turning point in the company’s service strategy. The company explains that combining Junggonara’s transaction data with Light Brothers’ expertise will create new synergy. Junggonara and Light Brothers plan to introduce various services such as sales, warranty, and repairs in connection with Lotte’s distribution affiliates, which have 15,000 stores nationwide.
Hong Jun, CEO of Junggonara, said, "Light Brothers is the optimal partner that can newly reorganize the used bicycle trading market that Junggonara envisions," adding, "We will strive to implement services optimized for used bicycle trading users by combining Light Brothers’ category expertise with Junggonara’s know-how."
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