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ARMORED FRESH was selected as a 'preliminary unicorn' by the Ministry of SMEs and Startups
Jun.29.2022
- Participating in global fairs, applying for three patents, attracting 27 billion won worth of Series B investment... Assessing Growth Possibilities
- The company plans to enter the U.S. in the second half of this year and lead the alternative food market with its own plant-based cheese
Photo Source: The Ministry of SMEs and Startups
- The company plans to enter the U.S. in the second half of this year and lead the alternative food market with its own plant-based cheese
Food tech company ARMORED FRESH (CEO Oh Kyung-ah) has been selected as a target company for supporting the Ministry of SMEs and Startups' "Special Guarantee for Preliminary Unicorns."
Photo Source: The Ministry of SMEs and Startups
"Special Guarantee for Preliminary Unicorns (Companies with a corporate value of more than 100 billion won)" is a project in which the Technology Guarantee Fund provides up to 20 billion won in special guarantees to promising unicorn companies with excellent innovation and growth among companies that have been verified by attracting investment. With a high competition rate of 3.8 to 1 for this year's preliminary unicorn selection, ARMORED FRESH with its own plant-based cheese was selected, as the company's competitiveness and growth potential were highly evaluated.
The technology selected by ARMORED FRESH in the preliminary unicorn special guarantee support is the development of 100% plant-based alternative cheese in the world's first fermentation method based on almond milk. "ARMORED FRESH Plant-based Cheese," which was introduced at a series of global fairs such as ‘CES 2022’ and ‘2022 Fancy Food Show’ held in the U.S. earlier this year, features the same fermentation process as regular cheese based on almond milk.
It has also completed three patent applications: ▲How to make vegetable cheese using almonds ▲How to make fermented almond milk with vegetable lactic acid bacteria ▲How to make vegetable almond cheese free compound. In addition, in May this year, the company successfully completed attracting 27 billion won worth of pre-series B investment in recognition of the possibility of vegan cheese made with Korea's only independent manufacturing technology.
Meanwhile, ARMORED FRESH is set to enter the global market in the second half of this year. Starting with the United States, which is represented by the alternative food market, the company plans to establish itself as a global leading company in the alternative food market through steady technology research and product development.
ARMORED FRESH CEO Oh Kyung-ah said, "As recent unicorn companies such as Market Kurly, Jikbang, and LIDI have risen to their current positions through the preliminary unicorn selection process, ARMORED FRESH will also do its best to grow into a unicorn company."
The technology selected by ARMORED FRESH in the preliminary unicorn special guarantee support is the development of 100% plant-based alternative cheese in the world's first fermentation method based on almond milk. "ARMORED FRESH Plant-based Cheese," which was introduced at a series of global fairs such as ‘CES 2022’ and ‘2022 Fancy Food Show’ held in the U.S. earlier this year, features the same fermentation process as regular cheese based on almond milk.
It has also completed three patent applications: ▲How to make vegetable cheese using almonds ▲How to make fermented almond milk with vegetable lactic acid bacteria ▲How to make vegetable almond cheese free compound. In addition, in May this year, the company successfully completed attracting 27 billion won worth of pre-series B investment in recognition of the possibility of vegan cheese made with Korea's only independent manufacturing technology.
Meanwhile, ARMORED FRESH is set to enter the global market in the second half of this year. Starting with the United States, which is represented by the alternative food market, the company plans to establish itself as a global leading company in the alternative food market through steady technology research and product development.
ARMORED FRESH CEO Oh Kyung-ah said, "As recent unicorn companies such as Market Kurly, Jikbang, and LIDI have risen to their current positions through the preliminary unicorn selection process, ARMORED FRESH will also do its best to grow into a unicorn company."