Simple Planet

About Simple Planet

Simple Planet Company is a South Korean bio-food technology firm founded in April 2021 by CEO Il Doo (Dominic) Jeong. Jeong, a serial entrepreneur with a background in biotechnology and chemical biotechnology, was motivated to address global food security and the climate crisis after witnessing food-related challenges during a trip to India. This experience led him to establish Simple Planet with the goal of creating a more sustainable food production system.

The company operates in the cultivated meat sector, focusing on developing and supplying cell-based food ingredients to other businesses rather than creating finished products for direct consumer sale. Its business model is centered on producing highly versatile raw materials that can be incorporated into a variety of food products to enhance their nutritional value and flavor. Simple Planet generates revenue by selling these ingredients, which include a high-protein cultured meat powder and an animal-fat paste with elevated unsaturated fatty acid content, to food and functional food companies. In September 2023, the company also launched a B2C convenience food brand, 'Balboa Kitchen', to directly utilize its ingredients.

Simple Planet's core technology is its Suspension Cell Differentiation Development Platform (SCDP). The company has successfully developed 13 specialized cell lines from various sources like cattle, pigs, chickens, and fish. A significant part of its technological strength lies in the creation of a patented, serum-free, edible culture medium using probiotics recycling, which drastically reduces production costs by over 99.8% compared to traditional methods that rely on fetal bovine serum (FBS). The company has secured approximately $7.5 million in total funding, including a $6 million pre-Series A round in February 2024, to construct a GMP-certified mass production facility and pursue global expansion, particularly into North America.