Blockchain based Luxury Platform GUHADA Completes Series B Round

B2B B2B2C blockchain based luxury platform GUHADA recently announced that it has completed attracting an 8 billion KRW Series B investment.

Leading domestic venture capital firms such as Korea Investment Partners, Woori Bank,  DTNI Investment (DTNI), BM Ventures participated in the Series B investment round.

Through this investment, GUHADA reportedly “achieved a cumulative investment of 13.5 billion won.”

Korea Investment Partners, as an anchor investor, “that has invested in GUHADA from the seed stage, participated in Series A and Series B investments, and investors highly evaluated GUHADA’s business model and monetization potential.”

In particular, Woori Bank’s investment case was “selected for the ‘Company Competition for Investment to Support the Growth of Small and Medium Enterprises’ and was recognized for its growth potential.”

GUHADA is “a luxury distribution hub platform that connects European boutiques with domestic conglomerate shopping malls and luxury fashion vertical commerce.”

Through two-way data integration with B2B, a luxury goods sales service between companies, the B2B2C business sector “recorded remarkable growth, leading to an increase in overall sales last year.”

Last year, the total sales of the B2B and B2B2C divisions “recorded KRW 8.2 billion, a 107% increase from KRW 3.9 billion in the previous year, solidifying its position as the leading luxury distribution platform in Korea.”

Last year’s combined sales “amounted to KRW 11.1 billion, a 56% increase from KRW 7.1 billion in the previous year.”

GUHADA’s B2B2C business is “based on API integration technology that enables two-way data integration with ‘European boutique ↔ GUHADA ↔ large domestic fashion mall.”

To date, GUHADA has “signed direct contracts with more than 50 local boutiques in Europe to integrate API data.” In addition, “the number of domestic e-commerce companies that signed real-time integration contracts with luxury data in the form of B2B2C increased from 5 in 2021 to 14 last year, including MustIt, Trenbee, Balaan, HanStyle, W Concept.”

Currently, GUHADA is “supplying more than 2 million pieces of data to B2B2C partnership companies.”

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