OnseCasero Secures Seed Funding from MYSC to Expand Local F&B Innovations in Korea
Reading Time: 2 minutesOnseCasero, a Korean agricultural startup, has secured seed funding from Merry Year Social Company (MYSC). “Onse” means “handmade” and “Casero” means “snack” in Spanish. Established in March 2018, OnseCasero is a leading F&B social enterprise based in Wonju, Gangwon Province in Korea. OnseCasero has ensured stable revenue by producing OEM products for renowned brands such as Samlip, Knotted, and Old Ferry Donut.
They also sell through online channels like Market Kurly, SSG, and Lotte Shopping, as well as offline channels including local public institutions and nearby schools and military bases. Recently, they have been actively launching new products in collaboration with upcycling startups and local creators like Reharvest and Sevi Beach, while also seeing steady growth in sales of their private label products.
From its inception, OnseCasero has been dedicated to addressing environmental issues by utilizing non-standard and surplus agricultural products, as well as food by-products. They prioritize hiring local women with career experience in their manufacturing and distribution processes, contributing to the revitalization of the local economy.
With this investment, the company plans to build large-scale production capabilities and grow into a representative F&B local creator company in the central region, beyond Wonju.
Merry Year Social Company stated, “Alongside MYSC’s equity investment of 100 million KRW, we have secured over 1.6 billion KRW in operating funds through the Gangwon Special Guarantee Fund, BPLUS P2P crowdfunding, the Korea SMEs and Startup Agency (KOSME)‘s loan product for social enterprises, and angel investment. We look forward to seeing OnseCasero, the first mixed finance case in the Gangwon region, grow and develop brands and products that reflect local values together with various stakeholders.”
Sungeon Park, CEO of OnseCasero, expressed his commitment, saying, “We will create new added value for various stakeholders through our local circular business and evolve into an even more competitive enterprise.”
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