Japan’s Dely secures $27M to beat Cookpad for online recipe market dominance

Japan’s Dely secures $27M to beat Cookpad for online recipe market dominance

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Kurashiru

This is the abridged version from our original article in Japanese.

As reported earlier this morning, Tokyo-based Dely, the Japanese video-centric culinary media startup offering recipe discovery portal Kurashiru, will announce today that it has secured a 3 billion yen funding (about $27 million) round.

Participating investors are Jafco (TSE:8595), YJ Capital (the investment arm of Yahoo Japan), Gumi Ventures (the investment arm of Japanese major game developer Gumi) and Das Capital as well as individual investors including FreakOut CEO Yusuke Sato. Das Capital is an investment fund run by Japanese serial entrepreneur/investor Shinji Kimura.

Financial terms have not yet been disclosed. With this funding, no announcement has yet been made regarding the possible change of their management structure. The company claims that the funds will be used to push forward the video recipe business in Japan while developing new businesses and acquiring other companies.

The latest round follows their $4.5 million funding back in November of 2016, which is just less than half a year away from the previous one. Dely was established in April of 2014. In September of the same year they received funding from Anri and began a food delivery business as their inaugural service. However, after judging the outlook for such services difficult, they pivoted to video curation media last year, which became the model for their current business.

Translated by Masaru Ikeda