NEW YORK — Bokksu, a Japanese snack subscription service and e-grocery company, raised $22 million in Series A funding at a $100 million valuation.
Founder Danny Taing launched the direct-to-consumer startup in 2015 to help traditional Asian snack makers reach a global audience. Partnering with brands throughout Japan, it offers an assortment of products to consumers in 100 countries through its snack subscription service.
“When I first started Bokksu, my goal was to help Japan’s traditional snack makers share their craft with the world,” Mr. Taing said. “One million boxes later, seeing how much our customers love discovering foods they otherwise may never have tried, I’ve been inspired to find more ways to help authentic Asian makers reach a wider audience.”
The New York- and Tokyo-based startup recently debuted two additional e-commerce platforms. Bokksu Market is a digital marketplace for Japanese lifestyle products, and Bokksu Grocery is an online grocery store for Asian food. The e-grocery site offers products spanning a range of categories, including snacks, beverages, baking, instant foods, meal starters, sauces, spices, seasonings, tinned fish and more.
“What I’m most excited about is Bokksu Grocery, which makes the Asian grocery experience more accessible for all Americans, regardless of their ethnicity, location or how much they know about Asian food,” Mr. Taing said.
Led by Valor Siren Ventures, with participation from Company Ventures, St Cousair, World Innovation Lab, Headline Asia and Gaingels, the $22 million investment will help Bokksu accelerate growth across all three platforms. The company plans to use the funding to expand its product assortment, produce more original content and hire new talent.
“In a short period of time, the Bokksu team has built an authentic and purpose-driven brand,” said Jon Shulkin, partner and fund manager at Valor Siren Ventures. “Thanks to their success in bringing curated products and gourmet experiences from Japan to the world, we believe Bokksu has the potential to build a disruptive direct-to-consumer grocery platform that will become the premier destination for Asian food products.”