Modpick, an overseas purchasing-agent startup, has raised seed funding from Kakao Ventures and Ewha University Holdings, the company said Friday.
Modpick is an AI agent-based cross-border commerce platform that identifies overseas brand products not yet available in Korea and connects them with consumers. Local buyers ship only products they have personally purchased and inspected in stores, providing authentic receipts and invoices, while artificial intelligence (AI) matches the product database (DB) with receipts to automatically generate customs documents. Through this process, shipping costs have been reduced by up to 65% and delivery times by up to 80% compared with typical purchasing-agent services, allowing customers to receive products in as little as two to three days after overseas dispatch.
Modpick has connected the entire process—from order collection to customs document generation, delivery tracking and customer service—into a single system. It has integrated data from 12 platforms, the Korea Customs Service and logistics companies, and is equipped with a risk-detection function that identifies in advance the possibility of fraudulent sites, counterfeit goods, abnormal prices, customs restrictions and delivery delays. The company is currently selling through 14 channels, including Naver Smart Store, Hyundai Home Shopping and SSG.com, with cumulative sales exceeding 10 billion won.
In the second half of this year, Modpick plans to unveil a "global AI autonomous commerce" platform, in which AI autonomously handles the entire commerce operation process—from product sourcing, registration, customer service (CS), customer relationship management (CRM) and customs document generation to delivery tracking.
An Hye-won, senior investment manager at Kakao Ventures, explained the reason for the investment: "Modpick is a team that possesses both marketing capabilities and operational efficiency in the labor-intensive purchasing-agent market." Ko Hyun-ji, CEO of Modpick, said, "Beyond automating complex purchasing-agent operations with AI, we will implement a service where customers can feel real value." She added, "We will build a platform that helps people easily, reasonably and reliably buy the products they want, without the constraints of borders."
