GoPizza Secures $10 Million Investment from Thailand's Top Conglomerate CP Group

Cumulative Domestic and International Investment Surpasses 60 Billion KRW
Global Growth Expected Based on Innovative Technology and Scalability

Food tech company Gopizza announced on the 10th that it has secured an investment of 10 million dollars (approximately 13.6 billion KRW) from CP ALL, a key distribution affiliate of Thailand's CP Group.

Following a Series C investment of 25 billion KRW from large corporations such as GS Ventures and CJ Investment in 2022, Gopizza has now surpassed a total cumulative investment of 60 billion KRW by successfully attracting investment from a major overseas corporation.

Lim Jaewon, CEO of GoPizza [Photo by GoPizza]

CP Group, the largest business conglomerate in Thailand with a market capitalization exceeding 200 trillion KRW, is the world's largest shrimp producer and the third largest poultry producer. Starting about 100 years ago in the feed business, it has expanded its global operations into distribution, telecommunications, finance, pharmaceuticals, and real estate.

Its core affiliate, CP ALL Group, operates various distribution channels including 7-Eleven convenience stores and Lotus supermarkets. This is the first time the group has invested in an overseas startup. Gopizza evaluated that the rapid growth potential of the Southeast Asian market based on its products and technology, along with the scalability through successful partnerships with large corporations such as GS25 and CJ CGV, were key factors in attracting the investment. They also added that this investment is expected to play an important role in accelerating Gopizza's growth within Thailand.

It is reported that Chirawan Supakit, chairman of CP Group, personally participated in the investment discussions that lasted about 18 months, showing deep interest from product demonstrations to the initial opening of stores in Thailand. Gopizza has already completed various and concrete collaboration discussions with CP Group’s affiliates and is set to fully launch its business in Thailand.

Currently, Gopizza operates about 450 stores across seven countries worldwide, including Thailand, India, Singapore, and Indonesia. The domestic corporation has successfully turned profitable and secured solid capabilities ahead of collaboration with CP Group, including plans to open an additional 1,000 stores in GS25 by the end of the year.

Im Jaewon, CEO of Gopizza, said, "Through long-term investment discussions with a major overseas corporation, we have learned many virtues necessary to become a truly global company. We will continue to grow as a proud Korean pizza brand with the best accessibility in the world beyond Korea and Thailand through active collaboration with CP Group."