8 Billion Won Investment Secured by Korea’s Innovative Food-tech Startup

TLDR: Simple Planet, a company specializing in cell-cultured food ingredients, has secured approximately 8 billion won in investment in a pre-Series A funding round. The funding comes from major venture capital firms and corporations, including POSCO Technology Investment, DCP Private Equity, and Hyundai Technology Investment. Simple Planet aims to use the funding to accelerate its research and development efforts and expand its presence overseas. The company has already begun constructing a GMP production facility for the mass production of cell-cultured high-protein powder. Simple Planet’s focus on revenue-generating strategies, including the launch of its B2C convenience food brand ‘Balboa Kitchen’, has contributed to its success in attracting investment.