Korea-based MEGA PLAN, which provides smart aquaculture solutions based on year-round mackerel spawning technology, has secured Pre-Series A investment through the ‘Jeju Early-Stage Startup Development Fund’ jointly operated by Jeju Center for Creative Economy & Innovation (Jeju CCEI) and MYSC. The investment amount was not disclosed. In August, the company had previously raised Pre-Series A funding from Bluepoint Partners.

MEGA PLAN holds patented technology for mackerel spawning and successfully shipped and sold its first generation of artificially spawned mackerel in January this year, proving its technological capabilities. The startup directly operates a land-based aquaculture farm in Pyoseon-myeon, Seogwipo City, Jeju.

Jeju CCEI expects that MEGA PLAN’s year-round mackerel production technology through land-based aquaculture will resolve supply instability issues for mackerel and expand the live mackerel market. Furthermore, the center anticipates the company will establish itself as an enterprise that solves marine food problems caused by climate crisis and ocean pollution.

Through this investment round, MEGA PLAN will be able to realize its phased expansion plan for aquaculture farms in four regions nationwide, including Gyeongnam Province following Jeju. The farm expansion is expected to dramatically increase mackerel production, leading to significant revenue growth.

Lee Byung-sun, CEO of Jeju CCEI, stated, “This investment is not only in MEGA PLAN’s technological capabilities but also in the potential to create new markets based on Jeju’s resources. We will continue to actively support promising startups through investments to help Jeju’s startup ecosystem grow to the next level.”