Intake, a South Korean food tech company, has secured ₩13.5 billion ($9.2 million) in Series C funding to commercialize its precision-fermented dairy, meat, and egg proteins. The company, backed by CJ Investment, HB Investment, and other investors, has developed a yeast strain from locally grown grapes that can produce proteins with 1.5 times the protein of traditional yeast. This strain will be used to create “first-generation protein powders” for “second-generation alternative proteins” like dairy, meat, and egg alternatives.
The company is working on several protein suites, including heme protein, which gives beef its red color and flavor, and albumen, or egg white protein. Intake plans to commercialize its products in the US market by 2026, starting with its whey protein replacer, which is currently in its early commercialization phase. The company’s B2B business will continue to focus on providing protein ingredients to manufacturers.
With the new funding, Intake aims to accelerate its R&D and global infrastructure expansion. The company’s existing businesses, including hydration brand Vital Water and plant-based meat brand Innocent, generated ₩22.4 billion ($15.2 million) in revenue last year. Intake is also involved in a government-backed project to develop plant-based and cultivated fish products.