Aionco, a startup that offers beauty product outsourcing and global logistics solutions, has landed 3 billion won (USD $2.6m) in Series A funding from Sejong Telecom, Bridge Alliance Partners and Ghost Holdings. Founded in 2015, the company has now raised a total of more than 4.5 billion won in venture capital.
Aionco currently provides logistics and sourcing for 2000 types of cosmetic products to 600 e-commerce sites in 55 countries. Its new platform, AFS (Aionco Fulfillment Service) Mall, was also launched earlier this year and has brought in 1 billion won in revenue from China, Japan, South East Asia and Europe in a short space of time. Financial growth continues to rise for the company, increasing by 300% compared to the same period last year.
“Making direct purchases from overseas via ecommerce is becoming more common around the world,” says Aionco CEO Justin Jun. “Cosmetic products in particular make up a large part of sales in Asia, and our goal is to grow AFS, Aionco’s logistics and distribution service, as a necessary solution for international purchases in the region.”
Aionco says that it plans to use the latest funding to bolster its AFS solution, in addition to sourcing beauty products from other countries and implementing a last-mile fulfillment service.
