'Office Food' Pudding Raises 2.5 Billion KRW in Pre-Series A Funding

[Asia Economy Reporter Jang Hyowon] Yeoldudal Co., Ltd., which operates the office food subscription delivery platform 'Pudding,' announced on the 18th that it recently secured a total of 2.5 billion KRW in Pre-Series A funding from NowIB Capital, Barogo, and others.

This investment follows Barogo's seed investment in October last year and was led by 'NowIB,' with participation from other institutional investors.

Pudding is a specialized delivery platform providing regular corporate meal services to global companies, startups, hospitals, and small to medium-sized enterprises.

Amid increasing corporate demand for regular in-house meals after COVID-19, sales have increased by more than 300% compared to last year. The cumulative number of meals served through Pudding's service has exceeded 1 million. It has established itself as the largest office food regular meal delivery service in Korea, with about 3,000 meals served daily.

Pudding plans to use the investment funds for service development, key talent recruitment, promotion, and marketing. In particular, it intends to focus investment on the logistics system infrastructure to ensure stable on-time delivery service and actively expand its services.

Kim Sanggyun, Senior Investment Officer at NowIB Capital, said, "Unlike existing services that provide in-house meals based on manufacturing, we highly value Pudding’s subscription economy model that curates menus tailored to corporate preferences in collaboration with various popular restaurant partners, accumulates consumer evaluation data, and offers improved menus each time. We expect significant growth going forward."

Hwang Yunsik, CEO of Yeoldudal, stated, "We will actively introduce business models that can enhance efficiency such as subscription, group orders, and localization so that the restaurants preparing the food, the customers eating it, and the platform connecting them can all coexist. We aim to grow into a company that provides services everyone needs."