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Gopizza raises $25 million to expand Indian presence

The South Korean pizza chain will utilise the capital to increase its footprint from 15 outlets in India currently to 100 stores by 2023

Gopizza raises $25 million to expand Indian presence
The GoPizza team

Vinita Bhatia

POSTED ON October 18, 2022 11:41 AM

South Korean pizza brand Gopizza has raised $25 million in Series C funding. GS Ventures, CJ Investment, Mirae Asset Securities, Ncore Ventures, Woori Bank, Capstone Partners, Big Basin Capital, DS Asset Management and Pureun Investment co-led this funding round.

In the past, Gopizza raised $20 million in funding from Woori Bank, Capstone Partners, Big Basin Capital, DS Asset Management and DSC Investment.

The pizza chain will utilise the recently raised capital to expand its presence in India from 25 outlets to 100 stores by 2023. The Korean brand, which specialises in single-slice pizza servings, launched its India operations in 2019 in Bengaluru. 

With over 140 stores in four countries like, India, South Korea, Singapore, Indonesia and Hong Kong, the franchise-first pizza brand plans to set up outlets in Thailand, Vietnam, Malaysia and the US. 

GoPizza
GoPizza launched its India operations in 2019 in Bengaluru

Dominos and PizzaHut dominate the Indian pizza market with regional players like Nirula's and Smoking Joe's gaining popularity. However, the pizza-making process is labour-intensive and time-consuming. Hence, these brands often prefer making larger pizzas and charge a premium, since preparing this dish, irrespective of its size, requires the same time and cost. 

GoPizza and Sbarro are two global brands that offer pizza by the slice. The Korean brand also claims to leverage technology to reduce operational costs and bring down the price per slice. 

Its patented GoVen oven for its internal smart kitchen units reportedly bakes pizza within three minutes automatically and can churn out 100 pizzas in an hour. The oven's 400-degree Celsius temperature and cooking time is regulated through IoT technology for optimal baking quality.

The company also has invested in GoVis Vision, an AI system that tracks and monitors the quality of pizza toppings in real time. This tech tool can classify all types of toppings and evaluate the quality based on the input recipe. 

GoPizza's entire business works on a tech-collaborated process. The GoBot pizza processing station receives pizzas from GoVen, classifies the product type, recognises the product name, evaluates quality, and cuts the pizza automatically. It then drizzles the right sauces according to the recipe and keeps it warm within the station.

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