Biomix Tech raises Series A funding to expand plant-based food business

Biomix Tech Co., Ltd., which specializes in developing and producing vegan foods such as plant-based meat alternatives, announced on the 2nd that it had raised a Series A round from Atinum Partners, Altos Ventures, and Otium Capital.

Biomix plans to use the investment to develop plant-based protein texturization technology and build a dedicated meat-alternative production facility. It also plans to begin expanding overseas next year, starting with the United States and Muslim-majority regions.

Biomix CEO Yoon So-hyun has a track record of success dating back to 2006, when she began developing brands in California, including Yoflavor, Tutti Frutti, teaTOK, and O’ my burns. She exported products to 45 countries and opened around 900 locations. She has also developed and launched around 300 food products, including premixes for yogurt, gelato, and smoothies, using flavor technology.

Founded in South Korea in 2016, Biomix has built on this experience to develop technology that replicates the distinctive fat color, taste, aroma, and moisture of different meats. It has also adopted LMHT (Low-moisture, High-temperature), a plant-based protein texturization method that recreates the texture of meat.

Oh Jun-seok, managing director at Atinum Partners, which led the investment, said, “The meat-alternative market is a major opportunity that is expected to reach 180 trillion won globally within the next 10 years. We expect the market to expand in earnest, starting now, as concern about environmental pollution and disease grows.”

Biomix CEO Yoon So-hyun said, “We aim to build an eco-friendly, wellness-focused food industry ecosystem and overcome the limitations of South Korea’s relatively underdeveloped alternative-food manufacturing sector. We also plan to introduce next-generation alternative foods, including meal options that take the food cultures of different countries and ethnic groups into account.”