Same day delivery service Wonders has landed yet another funding round, this time in the form of 1.2 billion won (USD $1.06m) from K Cube Ventures, Donghoon Investment and Union Investment Partners.
Wonders also received a 1.3 billion won investment back in May and has raised a total of 3.6 billion won. The latest deal is made up of 500 million won from K Cube Ventures and Donghoon Investment, and the remaining 200 million won from Union Investment Partners.
The delivery service has been operating in Seoul since June last year and offers a same day courier service for just 5000 won. Since launching, Wonders has made over 180,000 deliveries and moves an average of 2,500 items a day.
Companies are also using the service to save an average of 40% on delivery fees, and the startup is already working together with over 2000 partners, including major companies such as Lotte Mart and Pfizer. Online shopping malls have also got on board to improve delivery speeds and customer satisfaction.
Using this latest investment, Wonders plans to expand its service from Seoul to the rest of the Seoul Capital Area. The company currently has five logistics centers in Yeoksam, Guro, Mapo, Euljiro and Yongsan. It also acquired eyewear and lens delivery company ‘Bareunbaesong’ earlier this year and plans to focus on other delivery products in the future.
“We are focusing our investments on improving prices and distribution systems in the existing logistics industry,” says Kim Changsu, CEO of Wonders. “Wonders will take the lead in building unique delivery infrastructure.”
To read more about Wonders, check out our previous post from May.
