New York- and Tokyo-based Japanese snack subscription service Bokksu recently announced the launch of Bokksu Grocery, an online store devoted to helping consumers find and purchase authentic Asian food. The brand recently secured $22 million in a Series A funding round, the investment raised its valuation to $100 million. In an announcement, Bokksu said the funding will be used to hire and expand its product offerings, as well as produce more original content.
Bokksu is looking to build momentum amid an increase in access to Asian groceries and snacks online in the U.S. Founder and CEO Danny Taing stated: "[The funding] 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."
Japanese Digital Food Marketplaces
Bokksu Recently Raised $22 Million in a Series a Funding Round
Trend Themes
1. Online Asian Food Marketplaces - The rise of Bokksu Grocery and its successful funding round highlight the growing trend of online marketplaces selling authentic Asian food and products.
2. Subscription-based Snack Services - Bokksu's Japanese snack subscription service has proven to be successful, indicating an opportunity for other food companies to offer subscription-based services for international snacks and treats.
3. Expanding Product Offerings in Food E-commerce - Bokksu's plans to expand their product offerings and develop more original content shows the potential for food e-commerce companies to differentiate themselves by offering unique and diverse products and experiences.
Industry Implications
1. E-commerce - The success of Bokksu's funding round and launch of Bokksu Grocery points to the growth and potential for e-commerce companies, especially in the food industry.
2. Food and Beverage - Companies in the food and beverage industry can benefit from the trend of increasing access to authentic Asian food and snacks online and the opportunity to offer unique subscription-based services to customers.
3. Online Subscription Services - Bokksu's success in the subscription snack service industry highlights the potential for other companies to offer unique subscription services for international snacks and products.