# THE PIRATES

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/the-pirates

- Industry: Internet
- Headquarters: Seoul, South Korea
- Website: www.tpirates.com
- Total disclosed funding: $25M
- Latest round: Series C (Nov 18, 2022)
- Investors on record: 15

## About

THE PIRATES is a seafood distribution company that specializes in the online sale of a variety of fresh seafood products, catering to both individual consumers and businesses through its innovative platform.Founded in 2018 and headquartered in Seoul, South Korea, THE PIRATES focuses on providing high-quality seafood products. The company has completed a total of 3 deals, with its most recent funding round being a SERIES C in November 2022, raising KRW 16 billion from several investors including KDB Bank and L&S Venture Capital. The founder, Chuck Yoon, has a history of entrepreneurship, although further details about previous ventures are not specified.THE PIRATES specializes in the online distribution of a diverse range of seafood products, including live abalone, live crabs, smoked mackerel, and lobster. Catering to both retail customers and businesses, the company ensures access to premium seafood sourced from local and global fisheries, thus meeting the demand in urban markets for fresh products.In the most recent financial year of 2024, THE PIRATES reported a revenue of KRW 41,852,337.80 along with an EBITDA of KRW 3,327,705. This revenue is primarily generated through direct-to-consumer sales via their online platform, complemented by B2B partnerships with restaurants and food service operators for bulk orders.In November 2022, THE PIRATES raised KRW 16 billion in SERIES C funding to expand its overseas operations in response to rising demand. The company aims to launch new products and explore specific international markets, although detailed timelines for new product releases and market entry strategies have not been disclosed. The funding will support these initiatives and enhance the accessibility of premium seafood options globally.

## Funding rounds

- Series C, Nov 18, 2022, $12M — Woori Bank, KDB Bank, Yuanta Investment, SV Investment, L&S Venture Capital, Kiwoom Securities, Timeworks Investment
- Series B, Jul 11, 2020, $10M — Woori Bank, Yuanta Investment, SV Investment, Kolon Investment, CJ Investment, Kiwoom Securities, Midas Donga Investment, STIC Ventures, Nongshim Capital
- Series A, Jun 21, 2018, $2.9M — Bass Ventures, LEO Partners Investment, Stonebridge Ventures

## Investors

- Bass Ventures (https://capitalatlas.ai/funds/bass-ventures) — Series A
- LEO Partners Investment (https://capitalatlas.ai/funds/leo-partners-investment) — Series A
- Stonebridge Ventures — Series A
- Woori Bank — Series B, Series C
- Yuanta Investment (https://capitalatlas.ai/funds/yuanta-investment) — Series B, Series C
- SV Investment (https://capitalatlas.ai/funds/sv-investment) — Series B, Series C
- Kolon Investment (https://capitalatlas.ai/funds/kolon-investment) — Series B
- CJ Investment (https://capitalatlas.ai/funds/cj-investment) — Series B
- Kiwoom Securities — Series B, Series C
- Midas Donga Investment (https://capitalatlas.ai/funds/midas-donga-investment) — Series B
- STIC Ventures (https://capitalatlas.ai/funds/stic-ventures) — Series B
- Nongshim Capital (https://capitalatlas.ai/funds/nongshim-capital) — Series B
- KDB Bank — Series C
- L&S Venture Capital (https://capitalatlas.ai/funds/l-s-venture-capital) — Series C
- Timeworks Investment (https://capitalatlas.ai/funds/timeworks-investment) — Series C