Intake attracts 13.5 billion won in investment

INTAKE, an alternative food tech company, announced on April 1st that it had completed attracting 13.5 billion won in Series C investment.

The investment companies that participated in this investment round are a total of 7 institutions including HB Investment, CJ Investment, Woori Venture Partners, KDB Saneun Capital, Jacob Investment, Wonik Investment Partners, and Industrial Bank of Korea.

CJ Investment’s Senior Appraiser Kim Hyun-kyu, who participated in this investment, explained the reason for the investment, saying, “As consumers’ interest in a healthy diet increases, interest in the advancement of alternative food-related technologies is rapidly increasing within the industry.” He continued, “Intake is expected to grow into a key company in the alternative food sector in the future, centered around the success of its core patented technology development and commercialization of alternative food materials centered around its founders who graduated from Seoul National University’s food engineering department.”

Founded in 2013, Intake is an alternative food food tech startup that currently focuses on alternative food B2C business and alternative protein B2B business. It is expected to record sales of approximately KRW 22.4 billion in 2024, showing an annual sales growth rate of approximately 30%. Last year, it was also selected by the government as the responsible organization for a national research project on alternative seaweed meat worth approximately KRW 6 billion.

Intake CEO Han Nok-yeop said, “I believe this Series C investment is proof that Intake’s alternative food technology and products are gaining trust from consumers and the market,” and “With this investment, our goal is to complete the development of core technologies that can enable microbial-based alternative foods to become a new alternative to the existing food industry.”

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