ReFeed, a Korean company specializing in waste cooking oil collection and certification solutions, has secured Pre-Series A funding. The waste cooking oil is the primary raw material for sustainable aviation fuel (SAF). The investment round included existing seed investors such as TheVentures, TVSG, Antler Korea, and Jones & Rocket, along with new investors HIVEN, The Invention Lab, and the Seoul Business Agency (SBA).

The company has developed a groundbreaking solution that streamlines the traditional waste cooking oil collection process. Using a single photo, the system captures essential data, including the weight, location, and time of collection. Based in Vietnam, ReFeed operates across six regions, including Ho Chi Minh City and Hanoi, to collect used cooking oil.

Accurate data on the origins of waste cooking oil is crucial for securing carbon credits, and ReFeed’s technology is expected to gain increasing attention. The company shared that its clients include major global oil refineries in the United States and Europe, with over 480 collection customers currently served.

Kim Cheol-woo, CEO of TheVentures, explained the rationale behind the investment: “With the global demand for eco-friendly resources continuing to grow, we saw significant growth potential in ReFeed, which offers an innovative waste cooking oil collection solution in Vietnam, a country with a population of over 100 million.”