New Paradigm Investment Makes Pre-Series A Investment in Logistics Startup 'As We Make'

[Asia Economy Reporter Kim Jong-hwa] New Paradigm Investment, the operator of TIPS, announced on the 28th that it has made a Pre-A investment in the micro fulfillment logistics startup 'AsWeMake.'

Founded in November 2019, AsWeMake is a startup operating the same-day delivery application for local neighborhood marts called 'QMarket.'

QMarket connects medium and large offline supermarkets with consumers living within a 3km radius, utilizing supermarkets located in urban areas as delivery hubs to provide same-day delivery right to customers' doorsteps after ordering. It is an O2O service offering a simple and fast same-day delivery service (Local Mile), providing online sales services of offline mart products to residents in the delivery area, matching mart delivery orders with local delivery agencies, and delivering groceries within 70 minutes.

Micro fulfillment logistics is a logistics system where product storage, selection, packaging, and delivery are integrated and processed at the logistics center according to customer orders. QMarket aims to deliver the products customers need immediately in the fastest time by differentiating through partnerships with marts and utilizing affiliated logistics warehouses, providing consumers with fresher "Convenipremium (convenience + premium)" services.

Park Je-hyun, CEO of New Paradigm Investment, said, "We highly evaluate the growth potential of QMarket, an online grocery app that quickly connects local residents using offline neighborhood marts and food material marts," adding, "As indicators of non-face-to-face shopping and service usage rates show a monthly increasing trend, we expect it to grow into Asia's number one company based on an instant grocery delivery app utilizing proprietary IT technology."

Son Soo-young, CEO of AsWeMake, said, "With this Pre-A investment, we will advance the QMarket application and services," adding, "By utilizing the latest IT technology to connect marts and consumers through QMarket and reducing the distance from the fulfillment center to the destination to 3km, which is over 90% shorter than competitors, we will provide a new experience and innovation in online grocery delivery, delivering fresh meat, seafood, and sashimi."