On March 14th, Mattress manufacturer Ronas reported that it has raised seed fund from Big Basin Capital and MashUp Angels.
Ronas is known for conducting Cork Bear, a service that delivers mattresses to consumers’ homes by compressing them into a size of a golf bag. This compression packaging system allows the company to cut delivery costs and to reach locations that were once considered unreachable such as Jeju Island or other rural areas.
All Cork Bear manufacturing plants are located in Korea and consist of on-site mattress experts supervising the process. Additionally, the mattresses are packaged in antibacterial fashion, which guarantees sanitary products. Even with such quality assurance, the prices are kept at 1/3 of the conventional mattress retailers because the mattresses are sold directly from the factories.
CEO of Ronas commented, “This seed round will help reconstruct the manufacturing and operational system and allow Lohas to produce customized mattresses for each individual. We look forward to providing consumers with a good sleep by expanding the business into bedframes and other bed related products.”
The investor from MashUp supported the company by adding, “the Korean mattress market grew by an average of 9% per year, from $500 million in 2005 to $1.2 billion in 2015. Cork Bear will be the leader in the industry through its unprecedented strategy which makes high quality mattresses affordable to everyone.”
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