Asian E-grocer Bokksu Raises $22M at $100M Valuation
New York- and Tokyo-based Japanese snack subscription and e-grocer Bokksu has revealed a $22 million Series A raise at a $100 million valuation to help the company become the premier destination for Asian food products.
Founded in 2015 by Danny Taing, Bokksu helps traditional Asian food and lifestyle product makers reach a global audience. In October 2021, it rolled out Bokksu Grocery, an online grocery store, to make it easier to buy authentic Asian foods. Bokksu Grocery launched with more than 300 products, including drinks and snacks from Japanese convenience stores and vending machines.
“When I first started Bokksu, my goal was to help Japan’s traditional snack makers share their craft with the world,” explained Taing. “One million boxes later, seeing how much our customers love discovering (and eating!) foods they otherwise may never have tried, I’ve been inspired to find more ways to help authentic Asian makers reach a wider audience. We’ve since launched Bokksu Market, which offers a variety of Japanese goods that have never been available before outside of Japan. And what I’m most excited about is our recent launch of Bokksu Grocery, which makes the Asian grocery experience more accessible for all Americans, regardless of their ethnicity, location or how much they know about Asian food. This investment will enable us to accelerate the expansion of all three platforms, and connect even more Asian makers with even more global customers.”
Bokksu plans to use the funding to expand product assortment, produce more original content and hire new talent.
Adds Taing: “This funding capitalizes Bokksu at a level far beyond our bootstrapped early days, and it will facilitate a rapid increase of our product offerings and improvement of our delivery times, as well as allow us to grow our team and develop even more fun, unique and engaging ways to bring authentic Asian culture to our members. In the end, Bokksu is all about bridging cultures, and this investment will help us do just that.”
The investment was led by Valor Siren Ventures, with participation from Company Ventures, St Cousair, World Innovation Lab, Headline Asia and Gaingels.
“We are thrilled to partner with Bokksu as they scale their business,” said Jon Shulkin, partner and fund manager at Chicago-based Valor Siren Ventures. “In a short period of time, the Bokksu team has built an authentic and purpose-driven brand. Thanks to their success in bringing curated products and gourmet experiences from Japan to the world, we believe Bokksu has the potential to build a disruptive direct-to-consumer grocery platform that will become the premier destination for Asian food products. We look forward to working with Bokksu to help fuel their growth.”
