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FASSTO

Category: AI in Supply Chain / Logistics

An AI-driven 'Smart Fulfillment' platform providing end-to-end logistics and supply chain automation solutions for e-commerce sellers. FASSTO was founded in 2018. The company is led by Harris Jongwook Hong. Based in Seoul, South Korea. Team size: 51-100. Total funding raised: $100.0M. Latest round: Series D / Pre-IPO ($14.0M, Dec 2024). Key investors include ["VIG Partners","Naver","Shinhan Venture Investment","Mirae Asset Capital","SK D&D","KDB Bank","Lambda256"].

Founded
2018
Headquarters
Seoul, South Korea
Team size
51-100
Total funding
$100.0M

Value proposition

Democratizes advanced logistics by providing small-scale sellers with enterprise-grade AI fulfillment, 24/7 operations, and guaranteed arrival services without high fixed costs.

Products and solutions

["FASSTO FMS (Fulfillment Management System)","FASSTO WMS (Warehouse Management System)","FASSTO OMS (Order Management System)","FASSTO Global (US-based and cross-border fulfillment)","Specialized Cold Chain Fulfillment (Refrigerated/Frozen storage)"]

Unique value

First company in South Korea to obtain the Level 1 'Smart Logistics Center' certification from the Ministry of Land, Infrastructure and Transport.

Target customer

E-commerce SMEs, individual online shop owners, D2C (Direct-to-Consumer) brands, and global cross-border retailers.

Industries served

["E-commerce","Retail","Logistics & Supply Chain","SaaS (Software as a Service)","Robotics"]

Technology advantage

Proprietary AI and Big Data-based FMS that seamlessly integrates with major platforms (like Naver) and controls advanced hardware including AutoStore, AGVs (Automated Guided Vehicles), and AMRs.

How they differentiate

First company in South Korea to obtain Level 1 'Smart Logistics Center' certification. Differentiates through a proprietary AI-driven Fulfillment Management System (FMS) and deep integration with the Naver Fulfillment Alliance (NFA) to serve small and medium-sized e-commerce sellers.

Main competitors

["CJ Logistics","Team Fresh","Techtaka (ARGO)","ShipBob"]

Key partnerships

["Naver (Member of the Naver Fulfillment Alliance - NFA)","SK D&D (Logistics infrastructure and real estate)","Lambda256 (Strategic partnership for data reliability and logistics transparency)","VIG Partners & Shinhan Venture Investment (Financial/Strategic scaling)","Cafe24 (Daily Delivery service partnership for D2C brands)"]

Notable customers

["Naver NFA Sellers","D2C Brands","Global Cross-border Sellers","Cafe24 Mall Operators"]

Major milestones

["Obtained Korea's first Level 1 Smart Logistics Center certification in 2021","Secured 80 billion KRW Series C led by VIG Partners in March 2022","Completed Series D funding in late 2024 to support global expansion","Launched first U.S. fulfillment center in Santa Fe Springs, CA in early 2025","Launched Pre-IPO funding round of 300억 KRW in Nov 2025","Selected NH Investment & Securities as IPO underwriter, targeting 2026 KOSDAQ listing"]

Growth metrics

Cumulative investment exceeded 160B KRW ($123M) including Pre-IPO; 2023 revenue 76.4B KRW; 2024 revenue ~80B KRW; operating loss narrowed from 43.3B KRW (2022) to 26.6B KRW (2023); 7,000+ customers as of early 2026; targeting 2026 KOSDAQ IPO.

Market positioning

Leading South Korean 'Smart Fulfillment' provider for SMEs and a key partner in the Naver logistics ecosystem, currently transitioning into a global logistics digital transformation (DT) player.

Geographic focus

South Korea (Primary), North America (Expanding via Santa Fe Springs, CA center in 2025)

Patents and IP

Holds proprietary IP for its self-developed Fulfillment Management System (FMS) and automated logistics control logic; specifically recognized for Grade 1 Smart Logistics technology.

About Harris Jongwook Hong

Harris Jongwook Hong is a seasoned logistics and retail executive with over 20 years of experience. Prior to founding FASSTO, he served as the Vice President and Head of the 1P Division (Supermart) at TMON, one of South Korea's leading e-commerce platforms. His background includes significant expertise in retail strategy, strategic planning, and business development within the South Korean retail and logistics ecosystem.

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