South Korea’s GoPizza Receives $10M Boost from CP ALL for Thai Market Growth

GoPizza, a leading food technology startup from South Korea, has secured a $10 million (approximately KRW 13.6 billion) investment from CP ALL, a key distribution affiliate of Thailand’s CP Group. The investment will accelerate GoPizza’s expansion in Thailand, leveraging CP ALL’s extensive distribution network.

GoPizza’s CEO, Jaewon Lim, officially announced the investment, highlighting the growth potential in the Thai market. The company plans to drive rapid expansion with the funding, capitalizing on the synergy between GoPizza’s food and CP ALL’s market reach.

The recent investment brings GoPizza’s total funding to over KRW 60 billion ($45.6 million), following a KRW 25 billion Series C investment from prominent corporations such as GS Ventures and CJ Investment in 2022. 

CP Group, Thailand’s largest conglomerate with a market capitalization exceeding KRW 200 trillion, is the world’s largest shrimp producer and the third-largest poultry producer. Established nearly 100 years ago as a feed business, CP Group has since diversified into distribution, telecommunications, finance, pharmaceuticals, and real estate. This investment is CP ALL’s first foray into overseas startup funding, showing its strategic interest in expanding its footprint in the food tech sector.

GoPizza launched its first location in Thailand in December 2023 and aims to expand its presence to over 20 stores by the end of the year. The investment from CP ALL, which operates various distribution channels, including 7-Eleven convenience stores and Lotus supermarkets, is expected to accelerate GoPizza’s growth in the Thai market, leveraging CP ALL’s extensive distribution network and market expertise.

GoPizza cited the rapid growth of the Southeast Asian market and the scalability of its products and technology, as well as successful partnerships with large companies like GS25 and CGV, as key factors behind the investment. The company’s CEO, Jaewon Lim, emphasized the importance of these strategic alliances in driving expansion and profitability.

Jaewon Lim, CEO of GoPizza, said, “Through long-term investment discussions with large overseas companies, I was able to learn a lot of the virtues necessary as a truly global company.” He added, “Through active collaboration with CP Group, Korea is proud to be the most accessible country in the world, beyond Korea and Thailand.” “We will continue to grow as a pizza brand,” he said.

CP Group Chairman Chirawanon Supakit was reportedly deeply involved in the 18-month-long investment discussions. His interests ranged from product demonstrations to the initial opening of GoPizza’s Thai stores. 

GoPizza’s expansion strategy includes establishing a 100% subsidiary in Thailand, directly operating local stores, and hiring local corporate leaders. With over 450 stores across seven countries, the company has achieved profitability in its domestic market. It aims to open more than 1,000 additional stores in South Korea by the end of the year, further solidifying its presence through continuous partnerships with global conglomerates.

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