The New York and Tokyo-based startup raised $22 million in a Series A round at a valuation of $100 million to bridge cultures by helping traditional Asian products reach a global audience. Valor Siren Ventures led the round, which also included Company Ventures, St. Cousair, World Innovation Lab (WiL), Headline Asia, and Gaingels.
Since 2018, Bokksu has experienced 100 percent year-over-year growth and expects this trend to continue in the next years. The fresh capital will also enable the company to accelerate its primary business lines: subscription, market and grocery.
“While most Asian e-grocery platforms are used mainly by Asians, the majority of Bokksu’s loyal customer base are non-Asians who are hungry to learn more about Asian cuisines, and this gives Bokksu a potentially larger addressable market.” Gen Isayama, general partner and CEO of World Innovation Lab said in an interview.
Bokksu CEO Danny Taing created the company in 2015 and launched a Japanese snack subscription service in 2016.
Digital marketplace for premium Japanese lifestyle products, Bokksu Market, was launched in 2018, after delivering over one million subscription boxes of Japanese snacks to customers in more than 100 countries.
In 2021, it also launched Bokksu Grocery, an online grocery store that’s convenient for everyone to find and buy authentic Asian food goods.
The monthly subscription charge for Bokksu is $49.95, with free shipping to most countries, including the United States. For more savings, they offer three and six-month pre-paid plans, $44.95 and $42.95 a month, respectively, and $39.95 for a 12-month plan.