# Modu Ventures

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/modu-ventures

- Industry: Food
- Headquarters: Seoul, South Korea
- Website: www.modoojoobang.co.kr
- Total disclosed funding: $4.1M
- Latest round: Series A (Nov 22, 2022)
- Investors on record: 4

## About

Based in Seoul, South Korea, and founded in 2019, Modoo Ventures is a restaurant chain that operates 40 shared kitchen branches and 270 franchisees providing Honbap Daewang, Baro Rice Bowl, Baro Pasta and Light Food, and Bidon Jedon. In November 2022, Modu Ventures raised KRW 2 billion in a Series A funding from new investors DAOL Investment and KB Securities. As of November 2022, Park Hyung-Ju is the CEO of the company.

The company provides a wide range of cooked food items, such as Honbap Daewang, Baro Rice Bowl, Baro Pasta and Light Food, and Bidon Jedon.

Modoo Ventures plans to use its proceeds from November 2022 funding for future growth engines and expand overseas in cooperation with Korean groups and local companies in Indonesia, Japan, and Vietnam.

## Funding rounds

- Series A, Nov 22, 2022, $1.5M — WOORI Venture Partners, KB Securities
- Series A, Mar 5, 2021, $2.6M — SL Investment, Mirae Asset Venture Investment

## Investors

- SL Investment (https://capitalatlas.ai/funds/sl-investment) — Series A
- Mirae Asset Venture Investment (https://capitalatlas.ai/funds/mirae-asset-venture-investment) — Series A
- WOORI Venture Partners (https://capitalatlas.ai/funds/woori-venture-partners) — Series A
- KB Securities (https://capitalatlas.ai/funds/kb-securities) — Series A