# Devotion Foods

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/devotion-foods

- Industry: Food
- Headquarters: Seoul, South Korea
- Website: www.devotionfoods.com
- Total disclosed funding: $2.6M
- Latest round: Series A (Sep 21, 2020)
- Investors on record: 1

## About

Devotion Foods is a South Korean company that specializes in creating gourmet plant-based products, particularly alternative meat options, to cater to the growing demand for healthy and sustainable dietary choices.Founded in 2018 in Seoul, South Korea, Devotion Foods focuses on developing innovative plant-based food products. The company successfully raised KRW 3 billion in Series A funding from Kakao Investment in September 2020, totaling KRW 3 billion raised to date. Devotion Foods has completed 2 deals since its inception.Devotion Foods specializes in plant-based gourmet products, focusing on alternative meat options designed to provide healthy and sustainable dietary choices. The company’s primary offerings include plant-based garlic tomato meatballs and Korean galbi steak, both crafted to mimic the texture and flavor of traditional meat products while ensuring they are zero cholesterol and trans fat. These products cater to a diverse clientele, including vegan consumers, health-conscious individuals, and those looking to reduce their meat intake for environmental reasons. Devotion Foods aims to address the growing demand for sustainable food options that do not compromise on taste or quality. The company primarily serves markets in South Korea and is expanding its reach to include international customers interested in premium plant-based alternatives.Devotion Foods generates revenue through direct sales of its plant-based products to consumers, as well as partnerships with retailers who offer these products in their stores. The company’s sales model is primarily B2C, allowing customers to purchase items directly through the Devotion Foods website, making it easily accessible. Specific pricing structures for the products are established to enhance market penetration while ensuring competitive positioning within the plant-based food sector. For instance, the plant-based garlic tomato meatballs and galbi steak are marketed as premium offerings, appealing to consumers willing to invest in high-quality alternatives. The company is committed to transparency and sustainability, which are key components of its brand identity and appeal.Devotion Foods plans to launch new innovative plant-based products in the upcoming year, continuing to expand its offerings. The company is targeting international markets for expansion, with specific plans to enter additional regions by the end of 2022. The recent Series A funding of KRW 3 billion will be utilized to support product development and marketing initiatives, enhancing brand awareness and market penetration.

## Funding rounds

- Series A, Sep 21, 2020, $2.6M — Kakao Investment

## Investors

- Kakao Investment (https://capitalatlas.ai/funds/kakao-investment) — Series A