Simple Planet

Founded in 2021, Simple Planet is a South Korean biotech company specializing in cellular agriculture. Its cell line platform, designed for large-scale production, features multilayer nano-thin film and gelatin microparticle technology, claimed to increase cell proliferation and reduce the price of cell culture media. As of August 2023, this technology has established 13 cell lines, low-cost probiotics-based serum-free edible culture medium, and cell-based powder ingredients and unsaturated fats. The company claims its high-protein powders and customizable fats offer numerous applications, including enhancing flavor absorption and the nutritional structure of conventional foods.

In August 2023, the company announced its plans to establish a presence in North America as a part of its commercialization efforts.

Key customers and partnerships

In March 2023, Simple Planet partnered with Pulmuone, a South Korean tofu manufacturer to co-produce hybrid cultivated meat.

Funding and financials

In its latest funding round in February 2024, the company raised KRW 8 billion (~USD 6 million) in pre-Series A funding co-led by POSCO Technology Investment and DCP Private Equity, with participation from Hyundai Technology Investment, and others. The funding was earmarked for optimizing its manufacturing processes for its powdered ingredient, securing necessary regulatory approvals, and facilitating global expansions.