On October 31st, mobile ride sharing service Poolus raised close to $20M in Series A, the highest domestic Series A funding to date. The investment was led by collaborative fund created by Naver and Mirae Asset, impact VC Yellowdog and SK.
The investors all have extensive experience in funding leading companies of the sharing economy and mobility space. The collaborative fund is a representative fund in the U.S. that also invested in sharing-economy companies such as Lyft and Kickstarter. SK previously invested in car sharing companies SOCAR and TURO in 2015. Yellowdog previously invested in school bus sharing company EdTicket and travel accommodation company Stayes.
Poolus will use the funding to invest in its technology and marketing in order to expand its market. Poolus, an on-demand mobility solution, started the nation’s first ride sharing service in 2016, and has since then continued to expand its service throughout Korea.
CEO Kim Tae-Ho commented: “We will use the newly raised funding for market expansion and product development, which entails enhancing our technology and human capital. We will focus on proving the value of ride sharing by effectively solving traffic and environmental issues.”
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