PURESPACE Raises $4.1M from Altos Ventures for Food Tech

SEOUL, South Korea - PURESPACE said on Tuesday it received KRW 6 billion (US$4.1 million) in Series A funding from Altos Ventures.

The Seoul-based company, established in 2018, manufactures equipment that removes ethylene gas from storage facilities. Ethylene causes fruits and vegetables to ripen and decay.

Tests conducted by PURESPACE in conditions simulating commercial storage showed ethylene reduction rates exceeding 90 percent, the company said.

PURESPACE conducted pilots with Carrefour, Lotte Mart, and one United States retailer.

The company reported waste reductions exceeding 50 percent and shelf-life extensions of 2 times the original duration for certain products in these tests.

Chief executive Sun-young Lee said approximately 40 percent of fruits and vegetables produced globally are discarded during distribution.

Lee and chief operating officer Lee Jae-sung founded the company and developed the catalyst technology over six years, based on research previously conducted by their father, the company said.

European Union regulations enacted in September 2025 mandate 30 percent per capita reductions in waste from retail and food service by 2030, and 10 percent reductions from food processing and manufacturing.

South Korea is considering environmental, social, and governance disclosure requirements, according to the company.

PURESPACE produces two models: the PF105 for retail refrigeration units and small warehouses, and the PF106 for large distribution centers.

The company said it will release container and transport vehicle models in 2026.

The company holds patents in South Korea, the United States, Japan, and Singapore.

One patent application is pending in the European Union. The systems use catalyst technology with Internet of Things monitoring capabilities.

Altos Ventures partner Sam Ahn said the investment reflects corporate demand for waste reduction methods.

PURESPACE will use proceeds for market expansion, sales hiring, and product development, the company said.

(US$1 = KRW 1,473.59)