Wednesday, July 24, 2024
HomeRecent ArticlesSouth Korea-based Simple Planet Secures $6M Pre-Series A Funding

South Korea-based Simple Planet Secures $6M Pre-Series A Funding

Food-tech start-up producing future food based on stem cell culture platform technology, Simple Planet has secured $6 Million in Pre-Series A Funding round from POSCO Technology Investment, DCP Private Equity, Hyundai Technology Investment, Prologue Ventures, Pathfinder H, and Samho Green Investment, among others.

Read also – HiBob Acquires Payroll Platform Pento

With the help of capital, Simple Planet intends to transform food production by using cutting-edge components cultivated in cells for food manufacturing. The firm intends to introduce its high-protein-grown-beef-powder on a national and worldwide scale. In order to facilitate quicker entry, it has already announced ambitions to open locations in the US and Canada. Its current goal is to rapidly grow its distribution network.

Read also – IFC Invests in Tajikistan’s First Green Bond to Support Climate-Smart Projects, Build Resilience

“We expect to accelerate the development of serum-free edible culture media, which we are also researching,” said Simple Planet’s Jeong. “Moreover, we have been collaborating with global food companies since last year to utilise cultured meat prototypes. We aim to create significant outcomes through new business planning and international expansion by building cooperative relationships with global companies.”

Read also – Lava Network Secures $15 Million Seed Funding

About Simple Planet

Founded in 2021, Simple Planet cell culture platforms, featuring multilayer nano-thin films and gelatin microparticle technology, facilitate cell proliferation and reduce the cost of culture media by controlling nutrient release and delivery. Simple Planet also develop edible, serum-free cell culture medium, recombinant growth factors, and other essential reagents for use in cell-based food production.

Read also – Mocaverse Partners with OKX Wallet, DeFi Wallet, and Halo Wallet to Expand the Moca ID Ecosystem

- Advertisement -
- Advertisment -

Most Popular