Intake raises US$9.9 million to accelerate microbial protein commercialization

South Korean food technology company Intake has secured KRW 13.5 billion (approximately US$9.9 million) in a Series C funding round, marking a key step in its plan to scale microbial-based protein production and enter the global protein market by 2026.

The investment round drew participation from seven institutional investors, including HB Investment, CJ Investment, Woori Venture Partners, KDB Capital, J-Curve Investment, Wonik Investment Partners, and the Industrial Bank of Korea.

Founded in 2013, Intake develops both consumer-facing alternative foods and B2B protein ingredients. In 2024, the company generated approximately KRW 22.4 billion (US$16.4 million) in revenue, reflecting an annual growth rate of about 30%. The company was also selected last year to lead a KRW 6 billion (US$4.4 million) government-funded research project focused on developing seaweed-based meat alternatives.

The new capital will be used to expand research and development and build global infrastructure to support the company’s microbial protein business. Intake is working with precision fermentation technology to develop first-generation protein powders, which serve as the base for secondary protein products such as meat, egg, and dairy alternatives.

One of the company’s recent developments is a high-protein yeast strain derived from yeast found on domestic grapes. Using adaptive evolution, the strain has been modified to deliver more than 1.5 times the protein content of conventional yeast. Intake reports that this 'super protein' strain is now in the early stages of commercialization.

“The precision fermentation-based yeast cultivation method we use enables large-scale production without dependency on climate, offering a viable new option for supplying protein at scale,” commented Han Nok-yeop, CEO of Intake.

The company is positioning its yeast-based protein as a complete replacement for whey protein, with plans to begin entering the North American market in 2026. The global protein market, which Intake aims to target, is valued at approximately KRW 35 trillion (US$25.7 billion).

Han added, “This Series C funding is a sign that our technologies and products have earned market trust. With this support, we aim to complete development of core microbial-based food technologies that offer a real alternative to the traditional food system.”