Innohas Secures 3.5 Billion KRW Series A Bridge Investment

Inohas, a startup specializing in plant-based alternative meat led by CEO Park Jisoo, announced that it has successfully raised 3.5 billion KRW in Series A bridge investment.

New investors including the Industrial Bank of Korea and Ascendo Ventures participated in the Series A bridge round, followed by additional investments from F&F Partners and Shinhan Venture Investment. With this, Inohas's cumulative investment has surpassed 10 billion KRW within just one year of its establishment.

The decisive reason for securing investment despite the frozen investment sentiment was Inohas's differentiated technology that solved the chronic issues of bean odor and texture in plant-based alternative meat. In particular, the overwhelmingly positive evaluations of Inohas's launched products proved their competitiveness not only domestically but also in the global market.

Inohas is a startup founded in November 2021, focusing on research, development, manufacturing, and sales of plant-based alternative meat. Based on its proprietary patented technology and approximately 30 years of experienced professionals, it has attracted attention in the alternative meat market since its early days.

Four months after its establishment, in March, Inohas successfully raised 7 billion KRW in Series A funding and is currently expanding its carbon-reducing ‘Greener Food Factory’ to meet the rapidly increasing global market demand, especially in major sales destinations like the United States. Additionally, it is developing plant-based beef, chicken, and pork, securing both product differentiation and scalability for future development roadmaps.

An Inohas representative stated, “We are pleased that Inohas’s future growth potential and technological capabilities have been recognized despite the severely contracted investment sentiment due to the investment winter. With this Series A bridge investment, we will strive to allow more consumers to experience Inohas’s products.”

Furthermore, in June, Inohas expanded its business into the B2C market by launching its own brand ‘MEAT FREE-DOM’ along with new products such as “Plant-based Charcoal-grilled Galbisal” and “Plant-based Charcoal-grilled Jeyuk.” Based on this, the company has participated in various domestic and international exhibitions and events to build brand awareness. Recently, it also launched two new products, “Plant-based Charcoal-grilled Galbi Dumplings” and “Plant-based Kimchi Jeyuk Dumplings,” targeting the winter food market.

Inohas is expected to use the Series A bridge investment funds to establish a U.S. branch and lay the foundation for global expansion. Additionally, Inohas plans to launch a new plant-based HMR brand and conduct aggressive marketing domestically and internationally, as well as co-develop products with global companies to further strengthen its competitiveness in the global market.

This content was produced with the assistance of AI translation services.