Armored Fresh

Overview
News
Plant-based Dairy & Egg?

Armored Fresh is a South Korean food tech company, specializing in developing plant-based cheeses. The company leverages a patented fermentation process to produce its plant-based cheeses, using almond and oat milk, claimed to mimic the taste, mouth feel, nutrition, and meltability of dairy cheese. Its product lineup includes cheese slices (American, cheddar, Provolone, pepper jack), cubes (cheddar, plain, blueberry), and shreds (mozzarella), as well as spreads (spicy jalapeno, plain, garlic herb). In May 2024 , the company expanded its portfolio with an Oat Milk Cheddar Dip.

Armored Fresh entered the US market in 2022 and has established a significant presence. Its products are available at major retailers like Kroger, Fresh Thyme Market, Town and Country Foods, and Fred Meyer, as well as on Amazon and its website. Further, the company plans to enter the European market in 2024.

Key customers and partnerships

The company's products have gained traction with over 150 sales accounts in the US, including partnerships with vegan fast-food restaurants and retail stores. These partnerships are part of its strategy to make plant-based cheese more accessible. 

In January 2024 , the company partnered with restaurant chain Bareburger to incorporate its zero-dairy Oat Milk Cheddar Cheese into Bareburger's menu offerings.

Funding and financials

In its latest funding round in June 2022, the company raised USD 23 million in pre-Series B funding led by Korea Development Bank, with participation from Hanwha Investment & Securities, and Daesung Startup Investment, amongst others. The funding was earmarked for its US expansion efforts.

HQ location:
Seoul KOR
Founded year:
2001
Employees:
11-50
IPO status:
Private
Total funding:
USD 27.0 mn
Last Funding:
USD 21.3 mn (Series B; May 2022)
Last valuation:
-
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