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Hillhouse Capital, Sequoia Capital and GIC invested $320m in Woowa.

Synopsis

The operator of South Korea’s largest food delivery app has secured a $320m investment from Hillhouse Capital, Sequoia Capital and GIC, it said on Thursday, in a deal that values the startup at about $2.6bn. Woowa Brothers, which owns the “Baedal Minjok” food delivery service, said the cash will help drive expansion to overseas markets, and the development of autonomous robots. The investment was led by Hillhouse Capital, which had already invested $50.7m in the firm in 2016, with equity participation by U.S.-based Sequoia Capital and Singapore sovereign wealth fund GIC, Woowa Brothers said.

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