Incheon TP Startup Leap Package Supported Company ST Retail Secures 500 Million KRW Investment

Incheon Technopark (Incheon TP) announced on the 16th that ST Retail Co., Ltd., a participating company in the 'Startup Leap Package Support Project,' has attracted Pre-A investment worth 500 million KRW in recognition of its technological innovation and market competitiveness.

This project is promoted by the Korea Institute of Startup & Entrepreneurship Development and Incheon TP with support from the Ministry of SMEs and Startups and Incheon City, providing commercialization funds, specialized programs, and investment linkage for startup companies.

From the left, Kim Tae-seong, CEO of ST Retail Co., Ltd., Seo Jong-ho, Manager of Welcome Ventures, and Lee Seung-hwi, Executive Director. Provided by Incheon TP

ST Retail is a food tech company providing food processing and distribution services based on patented technology related to stevia impregnation. Through participation in the 2024 Startup Leap Package Support Project, it has advanced the technology for extending the shelf life of stevia agricultural products.

Through technological advancement, sales grew by 120% compared to the previous year, reaching 6 billion KRW, and it filed a PCT (Patent Cooperation Treaty) application aiming for overseas market entry.

In particular, on the 10th, it attracted Pre-A investment worth 500 million KRW from the venture capital firm Welcome Ventures, recognizing the innovation of its technology and market competitiveness.

Kim Taesung, CEO of ST Retail, expressed his ambition, stating, "With this investment, we plan to produce advanced stevia matured products and enter the global market."

This content was produced with the assistance of AI translation services.