HN Novatech Secures $4 Million for Seaweed-Extracted Heme Meat Alternatives
South Korean food ingredient company HN Novatech announces it has secured $4 million in a Series-A bridge round to commercialize its flagship ingredient ACOM-S, a seaweed-extracted heme for plant-based meat applications. The round was led by VC Logan Ventures, which said it was partnering with HN Novatech to meet the global demand for clean-label meat alternatives. HN Novatech focuses on developing healthy, sustainable, and cutting-edge food ingredient alternatives and has filed 19 patents to date. It claims to be the first company in the world to extract heme-like molecules from seaweed and develop meat alternatives, such as burger patties (Korean BBQ beef), bulgogi, and sausages. Last month, in an event organized by the Singapore Tembusutech Innovation and KILSA Global, HN Novatech launched its seaweed-extracted heme for …