Urban Labs developing alternative proteins from coffee leaves raises seed funding
Urban Labs, a South Korea-based company that develops plant-based alternative proteins utilizing coffee leaves, a byproduct of coffee, has raised funding from BigBang Angels and Korea Omega Investment.
Urban Labs is developing a technology that collects discarded coffee leaves, extracts edible proteins and active ingredients, and uses the extracted proteins to produce customized raw materials, materials, and products through ingredient formulation for each application.
The protein content of coffee beans is similar to that of eggs, and the company aims to achieve a price point similar to that of soybeans, the leading plant-based protein source. The company is focusing on developing customized protein ingredients without GMO issues or allergies.
“The alternative protein market is expected to grow at a CAGR of 50% through 2030,” said Taehyun Kim, Co-CEO of BigBang Angels. “Despite being an early stage company, Urban Labs is expected to grow in the future as it is promoting joint R&D and commercialization with existing alternative meat and alternative protein companies with its own technology.”
“We believe that it is of great social significance to develop alternative protein raw materials that can reduce greenhouse gas emissions by utilizing coffee by-products that are discarded from the coffee we drink every day,” said Kim Sun-hyun, CEO of Urban Labs. “Our ultimate goal is to apply our technology to various food products such as powders, alternative meats, alternative oils, alternative eggs, and vegan foods using this technology.”
With this investment, Urban Labs has paved the way for the development of a value-added business in food upcycling and food ingredients, and will be able to better respond to the rapidly growing and changing food market and environmental concerns.
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