South Korea's Altos Ventures announced on Tuesday that it has invested 12.6 billion won ($9.4 million) in the software-centric fulfillment company Techtaka.
Altos Ventures led the investment independently.
"Techtaka effectively shortens order processing times through high-quality software development, allowing sellers to access services with superior delivery quality in terms of price and time," Song Kyung-chan, a partner at Altos Ventures who led the investment said.
"We decided on this investment by evaluating its potential for efficiency in the logistics and e-commerce markets and its ability to actively respond to customer demands."
As of last year, South Korea's e-commerce market is estimated at 226 trillion won ($169 billion), capturing 35% of the entire retail industry.
As consumers become accustomed to fast delivery, sellers and logistics companies are striving to maximize operational efficiency through advanced integrated logistics services and reduce shipping costs.
"With this investment, we can ensure fast delivery to customers by introducing robotic technology to provide efficient fulfillment services and establish a stable operating system," Techtaka's CEO Yang Soo-young said.
"We plan to elevate the level of existing Amazon FBA (fulfillment by Amazon) receiving agency services in the United States and provide end-to-end services for sellers considering overseas market reach by expanding local hub centers."
Write to Kang-Ho Jang at
callme@hankyung.com
