MUSINSA, an online fashion platform in South Korea, has raised $190 million in Series C VC funding round led by KKR, a global investment firm, with participation from Wellington Management.
This Series C is the company’s third fundraise and follows its KRW 130 billion won Series B round in 2021 and KRW 100 billion won Series A round in 2019.
In 2023, Fast Company named MUSINSA as among the 10 most innovative Asia Pacific companies of 2023 for globalizing K-fashion.
This transaction marks KKR’s first technology growth investment in Korea as part of its Asia Next Generation Technology (NGT) strategy.
KKR, as part of its Asia NGT strategy, made investments in Lenskart, an omni-channel eyewear retailer in India; Advanced Navigation, a developer of AI-powered robotics and navigation technology in Australia; Privy, a digital identity provider in Indonesia; GrowSari, a business-to-business e-commerce platform serving small-and-medium enterprises (SMEs) in the Philippines; KiotViet, a software platform for SMEs in Vietnam; and NetStars, the operator of Japan’s largest QR code payment gateway.
