Monday, June 10, 2024

Funding

Itgreen Co., Ltd. Has Secured Pre-Series A Investment and Been Selected for TIPS Program


credit : Itgreen


Itgreen Co., Ltd., a pioneering multi-use container service provider, is excited to announce the successful completion of its pre-Series A investment round and its selection for the prestigious Technology Innovation Program for Startups (TIPS) by the Ministry of SMEs and Startups.


High-profile investors such as the Korea Credit Guarantee Fund, SGC Partners, Aju IB Investment, and Lotte Ventures have shown faith in the company's vision and growth prospects, alongside existing shareholders. Although the precise value of the investment remains confidential, the firm acknowledges and appreciates the substantial support it has garnered. 


Founded in 2021, Itgreen operates with a visionary mission to achieve the 3Rs: Reduce, Reuse, and Recycle. Offering a range of multi-use container services, the company aims to minimize resource consumption and promote sustainable practices across various sectors. Notably, their flagship service, "Returnit," replaces single-use plastic containers with eco-friendly alternatives for orders placed through popular delivery apps like Baemin and Yogiyo. Itgreen also supplies multi-use containers to B2B regular lunch deliveries and large-scale facilities such as baseball stadiums, contributing to a carbon-neutral future and the realization of a sustainable circular economy.


Within a short span of two years, Itgreen has demonstrated impressive growth and stability. Currently providing multi-use container services in ten districts of Seoul and six cities in Gyeonggi Province, the company has experienced a remarkable tenfold increase in revenue since its service launch, achieving profitability.


Expressing his enthusiasm, Mr. Lee Junhyung, CEO of Itgreen, stated, "The successful completion of the pre-Series A investment and our selection for the esteemed TIPS program validate Itgreen's technological excellence and potential for future growth." He further emphasized the company's commitment to integrating multi-use container services with innovative IT data solutions, enabling efficient monitoring of greenhouse gas emissions and securing carbon credits.


Looking ahead, Itgreen aims to capitalize on its market position by expanding its services aggressively. The company is devoted to advancing its research and development (R&D) system for eco-friendly products, aiming for the next phase of growth and establishing a stronger foothold in the industry.


Itgreen : https://www.returnit.co.kr/

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