Food-Tech Startup 'Humeal,' Operator of Vegan Brand 'Garumaster,' Secures Joint Investment
Regional accelerator Series Ventures (Co-CEOs Seong-wook Kwak and Joon-sang Park) and CNT Tech have jointly invested in Humeal, a food-tech startup operating the vegan food brand Garumaster. The investment was made through the G-Strong Innovation Startup Fund, co-managed with the Gyeongnam Center for Creative Economy and Innovation.
Humeal, based in Gimhae, Gyeongnam, specializes in vegan food products under the Garumaster brand. The brand features 100% plant-based ingredients with no synthetic additives. It uses domestically sourced soybean powder, developed with proprietary technology, to produce soy milk powder-based beverages. One of its bestsellers, the Pumpkin Soy Cream Soup, sold 4,600 servings within 20 days of launch and has amassed 90,000 orders over 18 months since its debut.
Unique Business Model and Rapid Growth
Humeal operates its own food manufacturing plant and content studio, managing everything in-house, including:
•Product development and manufacturing
•Design and branding
•Content marketing
•Logistics and delivery
This approach minimizes production and operational costs, allowing the company to offer vegan products at reasonable prices. These affordable offerings have received strong consumer approval, driving rapid growth. Since its founding three years ago, Humeal's sales have increased by 100-fold, demonstrating its success in meeting the demands of evolving consumer trends.
CEO Vision
Kyeong-hwan Kim, CEO of Humeal, stated:
“With rising consumer interest in sustainability and health, the global vegan market surpassed KRW 20 trillion last year. Domestically, interest in vegan food is growing, especially among the MZ generation. With this investment, we aim to expand our product line to target not only domestic consumers but also international markets, positioning Humeal as a global health food brand.”
Investor Perspective
Joon-sang Park, Co-CEO of Series Ventures, commented:
“We first connected with Humeal through an IR event at the Gimhae Biomedical Industry Promotion Agency in 2021 and were impressed by the team’s execution capabilities, leading to our seed investment. As a regional accelerator, we leverage our strength in quickly identifying promising local startups. We remain committed to discovering and supporting potential-driven startups in the region.”
With its innovative approach, strong growth, and commitment to sustainability, Humeal is positioned as a leading player in the expanding vegan food market.
Food-Tech Startup 'Humeal,' Operator of Vegan Brand 'Garumaster,' Secures Joint Investment
Regional accelerator Series Ventures (Co-CEOs Seong-wook Kwak and Joon-sang Park) and CNT Tech have jointly invested in Humeal, a food-tech startup operating the vegan food brand Garumaster. The investment was made through the G-Strong Innovation Startup Fund, co-managed with the Gyeongnam Center for Creative Economy and Innovation.
Humeal, based in Gimhae, Gyeongnam, specializes in vegan food products under the Garumaster brand. The brand features 100% plant-based ingredients with no synthetic additives. It uses domestically sourced soybean powder, developed with proprietary technology, to produce soy milk powder-based beverages. One of its bestsellers, the Pumpkin Soy Cream Soup, sold 4,600 servings within 20 days of launch and has amassed 90,000 orders over 18 months since its debut.
Unique Business Model and Rapid Growth
Humeal operates its own food manufacturing plant and content studio, managing everything in-house, including:
•Product development and manufacturing
•Design and branding
•Content marketing
•Logistics and delivery
This approach minimizes production and operational costs, allowing the company to offer vegan products at reasonable prices. These affordable offerings have received strong consumer approval, driving rapid growth. Since its founding three years ago, Humeal's sales have increased by 100-fold, demonstrating its success in meeting the demands of evolving consumer trends.
CEO Vision
Kyeong-hwan Kim, CEO of Humeal, stated:
“With rising consumer interest in sustainability and health, the global vegan market surpassed KRW 20 trillion last year. Domestically, interest in vegan food is growing, especially among the MZ generation. With this investment, we aim to expand our product line to target not only domestic consumers but also international markets, positioning Humeal as a global health food brand.”
Investor Perspective
Joon-sang Park, Co-CEO of Series Ventures, commented:
“We first connected with Humeal through an IR event at the Gimhae Biomedical Industry Promotion Agency in 2021 and were impressed by the team’s execution capabilities, leading to our seed investment. As a regional accelerator, we leverage our strength in quickly identifying promising local startups. We remain committed to discovering and supporting potential-driven startups in the region.”
With its innovative approach, strong growth, and commitment to sustainability, Humeal is positioned as a leading player in the expanding vegan food market.