South Korean alternative food and food-tech company INTAKE has completed a Series C funding round. The company raised approximately $9.5 million. Seven institutional investors participated in the funding, including HB Investment, CJ Investment, and Woori Venture Partners. INTAKE will use the capital to enhance research and development in microbe-based alternative protein. The funding will also help strengthen the company’s global infrastructure.
Founded in 2013, INTAKE is a leading food-tech startup. It specializes in B2C alternative food products and B2B alternative protein solutions. In 2024, INTAKE reported revenues of about $15.8 million, achieving an annual growth rate of 30%. The company was recently designated as the lead institution for a national project on seaweed-based meat. This project is valued at $4.2 million.
CJ Investment’s Senior Analyst, Kim Hyun-kyu, highlighted the rising consumer interest in healthy eating. He emphasized that INTAKE is well-positioned in the alternative food sector.
INTAKE’s precision fermentation technology is gaining attention as a novel protein production method. This scalable process enables the creation of primary protein powders for secondary products, such as plant-based meats, eggs, and dairy. The company is increasing its investments in technology development to support growth.
Using a unique GRAS (Generally Recognized as Safe) yeast strain from locally grown grapes, INTAKE has developed a “super-protein.” This yeast variant has 1.5 times the protein content of regular yeast. It is currently in the early stages of commercialization. INTAKE aims to capture a share of the $24.6 billion global protein market. The company plans to enter the North American market by 2026.
CEO Han Nok-yeop stated, “This investment reflects the trust consumers and the market have in our technologies.” He added, “With this funding, we aim to finalize our core technologies. Our goal is to position microbe-based alternative foods as viable options in the traditional food industry.”
