The Greet Selected as 'Baby Unicorn'... Advancement of Reusable Container Service Platform

Company Providing Total Solution for Reusable Containers
Receives Up to 300 Million KRW in Market Development Funds

The Greet, a provider of total solutions for reusable containers, announced on the 9th that it has been selected as a ‘Baby Unicorn’ by the Ministry of SMEs and Startups.

Since 2019, the Ministry of SMEs and Startups has been conducting the Global Unicorn Project to support companies that are expected to grow into unicorns (unlisted startups valued at over 1 billion USD). The Baby Unicorn program selects promising startups within seven years of establishment based on innovation and growth potential.

Baby Unicorn companies receive up to 300 million KRW in market pioneering funds and special guarantees from the Korea Technology Finance Corporation (up to 5 billion KRW). This year, a total of 50 companies were selected for the Baby Unicorn nurturing project, with a competition rate of about 4 to 1.

The Greet is a total solution provider that manufactures, supplies, collects, cleans, and resupplies reusable containers. It has standardized 36 types of reusable containers to replace various disposable containers. Each container is assigned a QR code to enable lifecycle management. Its directly operated cleaning facility can clean 250,000 reusable containers daily, with a maximum capacity of 500,000 containers.

Leveraging its selection as a Baby Unicorn, The Greet plans to advance the ‘ECIS’ (Easy Circulating System) circulation platform for reusable container services. The return machine ECIS developed by The Greet applies OTA (Over-the-air programming) technology, enabling recognition and collection of all types of containers.

Yang Woo-jung, CEO of The Greet, said, “The Greet operates the largest reusable container cleaning facility in Korea,” adding, “We plan to expand daily cleaning capacity to 1 million containers and lead a new paradigm in the reusable container business.”