The impact of COVID-19 on the sharing economy has been mixed for startups.
While companies like Airbnb and WeWork have struggled, others, like the community kitchen business model, have seen growth opportunities.
South Korean startup WeCook has expanded its business with the help of deregulation by the Korean government and the increase in demand for food delivery services due to the pandemic.
The company has focused on delivery services and has formed a “Food Safety Inspection team” to gain customer trust and offer safe certified food.
WeCook has received investment from various venture capital firms and accelerators since its founding in 2015.
| Stage | Time | Amount | VCs |
| Series B | Aug. 2019 | KRW16B(USD 13M) | Korea Development Bank UTC Investment Posco Capital Neoplux NAU IB Capital DTN Investment Lotte Accelerator Intervalue Partners |
| Series A | Apr. 2018 | KRW 5.2B(USD 4.3M) | N/A |
| Seed | Dec. 2017 | KRW 400M(USD 330K) | Lotte Accelerator N/A |
| Seed | Jul. 2017 | KRW 100M(USD 83K) | Seoul Business Agency |
| Seed | May. 2017 | KRW 500M(USD 420k) | TIPS (Tech Incubator Program for startup Korea) |
