The market for plant-based and alt protein continues to thrive in South Korea, where a plant-based Whopper launches into Burger King, and two domestic cell-based companies announce significant developments.
Seawith Completes $5.43M Series A for Seaweed Scaffolded Cultivated Steak
Seawith – a cultivated steak pioneer from South Korea – has announced the completion of a ₩6.5 billion ($5.43 million) Series A investment, as the startup looks to lead the cultivated meat movement in the country. Seawith champions algae as a scaffolding to grow meat, which the company claims will allow it to produce thick-cut cultivated beef at $3 per kilogram. “Many foreign protein alternative food development companies are also interested in our technology” Seawith announced a fresh investment of ₩1 billion to complete the funding round, with the company now focusing on investment in production facilities and commercialization. The investment is expected to further boost the development of cultivated meat technology in South Korea, as the movement gathers steam across Asia. Cultivated meat was …