Doeat
South-Korean food delivery app providing fast and free service with a minimum order of 9,000 won.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | KRW30.6b | Series A | |
| Total Funding | 000k | ||
Related Content
Doeat (두잇) is a South Korean food delivery platform founded in 2022 by Ian Yunseok Lee, Kirok Kwon, and Jae-won Lee. CEO Ian Yunseok Lee, a KAIST physics graduate with prior experience as a developer and product owner at Coupang and Toss, was driven by a desire to enact societal change, viewing the startup model as a potent vehicle for improving people's lives. This vision is shared by co-founder Kirok Kwon, who left a stable career after his Ph.D. in Mechanical Engineering to solve real-world problems through technology.
The company operates a mobile application that provides food delivery services, primarily targeting the growing market of single-person households in densely populated urban areas. Doeat's core business strategy revolves around a group buying model; it pools orders from users in close proximity to create team orders. This approach optimizes delivery routes and logistics, which allows the company to offer a compelling zero-delivery-fee service, a significant differentiator in the competitive food delivery market. Initially launched in select districts of Seoul, the service is expanding its coverage to other high-density neighborhoods.
Doeat generates revenue through commissions from partner restaurants and has expanded its offerings beyond a simple marketplace. The platform now includes curated meal services like "Doit Today" and "Doit Special," a health-focused "Doit Green" line, and meals from its own private brand, "Doit Amazing." A paid membership, 'Doit Club,' offers additional benefits, positioning the company as a comprehensive food subscription service. The company has successfully raised significant capital, securing a total of 30.6 billion KRW in its Series A funding rounds from investors including Goodwater Capital, #Hashed, and SBVA, to fuel its regional and business expansion.
Keywords: food delivery, group buying, single-person households, zero delivery fee, food tech, mobile application, South Korea, Seoul, last-mile delivery, curated meal service, food subscription, restaurant marketplace, logistics optimization, online food ordering, B2C, e-commerce, Ian Yunseok Lee, Kirok Kwon, Doeat