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Gopizza attracts $10 million investment from Thailand

Posted May. 29, 2024 08:02,   

Updated May. 29, 2024 08:02


It was confirmed on Tuesday that Gopizza, a single-serve pizza franchise company, has attracted a $10 million investment from CP Group, Thailand's largest conglomerate. Gopizza is rapidly expanding its stores in Southeast Asia, including India, Singapore, Indonesia, and Thailand.

According to the investment banking (IB) industry, Gopizza recently received investment from CP ALL, a core distribution affiliate of CP Group that operates the convenience store 7-Eleven and the supermarket Lotus. This is CP ALL’s first investment in an overseas startup. CP Group is a Thai conglomerate founded in 1921 by Hsieh Chu, an overseas Chinese from Guangdong Province.

With this investment, Gopizza's cumulative investment amount has reached approximately 60 billion won. Last year, Gopizza attracted 25 billion won from Mirae Asset Securities, GS Ventures, and CJ Investment last year despite the recession of the investment market.

The company, which CEO Lim Jae-won started as a food truck in 2016, expanded overseas, starting with India in 2019. Currently, it operates over 200 stores in seven countries. It is growing overseas by developing menus that combine Korean characteristics and local tastes, such as ‘Bulldak Volcano Pizza’ and ‘Seoul Snow Pizza.’ Gopizza expects sales of 40 billion won this year and a monthly surplus.

Gopizza is attracting attention as a food tech company because of its scalability to produce pizza even in very small stores. CEO Lim designed Goven, an oven that can bake six single-serve pizzas in three minutes. Since it takes up less space, pizza can be made even in a 3-pyeong store.

With this investment, there is a greater possibility that Gopizza can be found at 7-Eleven in Thailand, one of CP ALL's distribution channels.

이민아 기자 omg@donga.com