ASWEMAKE, a South Korean startup offering a comprehensive digital transformation (DX) and integrated management solution for local grocery marts, has secured approximately USD 7.3 million(KRW 10 billion) in its Series C funding round.

New investors participating in this round include LB Investment, Partners Investment, and Wonik Investment Partners, while existing investor A Ventures returned for a third follow-on investment. This latest raise comes just six months after ASWEMAKE’s USD 8.3 million (KRW 11 billion) Series B round in September 2024, highlighting its exceptional performance despite ongoing stagnation in the venture capital market.

In addition to the financial investors (FIs) who have already completed their capital commitments, several large and mid-sized strategic investors (SIs) are also undergoing final review and payment procedures. These SIs plan to collaborate with ASWEMAKE to enhance its retail-tech capabilities by combining the startup’s digital solutions with their existing sales and logistics networks.

ASWEMAKE operates QMarket, an online same-day grocery delivery service that connects local markets with residents within a 3-kilometer radius. By using urban grocery stores as delivery hubs, QMarket enables home delivery within three hours of order placement—offering a compelling O2O (online-to-offline) value proposition.

As of Q1 2025, QMarket has partnered with 1,347 grocery marts. The company recorded USD 74.1 million(KRW 101.8 billion) in gross merchandise value (GMV) for the quarter and surpassed a cumulative GMV of USD 371 million(KRW 510 billion). Quarterly consolidated revenue rose 92% year-over-year to USD 5.6 million(KRW 7.7 billion), with standalone revenue hitting USD 3.9 million(KRW 5.3 billion). Operating profit for Q1 stood at USD 0.87 million (KRW 1.2 billion) on a consolidated basis, already exceeding the full-year 2024 figure.

These robust financial results were key to investor confidence, demonstrating both growth potential and commercial viability.

LB Investment Director Jang Hong-seok commented, “Digital transformation has already raised the online sales ratio above 30% in many consumer goods sectors, but grocery remains at just 18%. ASWEMAKE is rapidly gaining market share and has the potential to become a unicorn like Swiftly in the U.S.”

QMarket also offers a supplementary workforce service called “Q-Mom,” which enables partner marts to reduce labor costs by over 40% by leveraging local residents. The company’s “Hat Delivery” platform, an industry-first digital delivery management system, allows mart partners to eliminate vehicle maintenance costs entirely. Additionally, its digital marketing tool “QMarket Ads” delivers up to 20 times better cost efficiency compared to traditional analog promotions.

Beyond QMarket, ASWEMAKE is expanding its offline distribution network through “Direct-Q,” linking over 4,800 retail points nationwide to verified online brands and direct-from-source products. Its November 2024 acquisition of “OneCoupon,” Korea’s leading product coupon platform, is now also being leveraged to improve inventory turnover and support partner marts.

The Series C funding will primarily support customer acquisition, marketing, and strategic M&A to upgrade its value chain. R&D efforts will also focus on monetizing its data-driven SaaS platform, QMarket Partners, which currently supports features like Dynamic Pricing AI, automated purchasing systems, and monthly operational analysis reports.

CEO Soo-Young Sohn expressed gratitude to A Ventures and the new investors, saying, “The key to digital transformation for grocery marts lies in unified product management, channel diversification, and enhanced delivery solutions. We aim to become a total DX partner not just in Korea but across Asia, together with our employees across parent and subsidiary companies.”Meanwhile, on May 30, ASWEMAKE completed its 100% acquisition of “ShuKet,” a solution supporting marketing and e-commerce for small and medium-sized grocery stores. With partnerships across 350 locations, ShuKet automates flyer production, price POPs, in-store design, and mobile ordering platforms—helping the company solidify its omnichannel retail SaaS ecosystem centered around local marts.