What ReFeed does

ReFeed, Inc. (founded October 2022 in Seoul, South Korea) operates an IT and AI-based data platform that digitizes used cooking oil (UCO) collection and traceability from the first discharge point through export to global oil refiners. The company serves two primary customer segments: waste generators (large F&B franchises such as CJ and GS25, hotel groups including InterContinental, Vietnamese international airports, and concession companies) and global oil refiners in the US and Europe that purchase verified UCO as feedstock for Sustainable Aviation Fuel (SAF) and bio-diesel production. ReFeed owns and operates the TheChium ERP platform (sold to Korean waste generators, collection companies, warehouses, and middlemen for digital workflow, ESG reporting, and accounts receivable management) and ECO OIL Vietnam (its wholly-owned Ho Chi Minh-based subsidiary, expanded to Hanoi, Phu Quoc, and Da Nang, with ~18 local employees conducting direct UCO collection and export). The company also holds a patent-pending AI-based portable oil measurement device that uses computer vision to measure volume, moisture, and impurities from photographs, eliminating manual estimation errors and producing verifiable origin data required for ISCC-EU carbon-credit certified SAF.

ReFeed's business model combines three revenue streams: volume-based UCO trading (verified UCO sold to global refiners, with contracts tied to large F&B and hospitality accounts in Vietnam and Korea), SaaS subscriptions for TheChium (recurring fees for the ERP platform sold in Korea), and ESG reporting/data management services (monthly ESG reports issued to corporate clients needing sustainability compliance documentation). GTM is primarily direct enterprise sales led by the founders (CEO Lee Chung-ho, ex-Samsung Total petrochemicals and Harvard Kennedy School; CTO Jeon Jun-bong, ex-Hanwha Total; COO Yoo Jeong-hwan), with relationship-driven long-term contracts and layered government program support via TIPS, SBA, DATA-Global, and KOTRA. As of late 2024, ReFeed reports 380+ global customers, 337+ tons/year of UCO collected directly (≈300 tons/month in Korea, ~100 tons/month in Vietnam targeting 1,000 tons/month), ISCC-EU and ISO 9001 certifications, and approximately 26 employees across Korea and Vietnam, with new operations in India backed by SBA's Global Entry Program.

Operationally, the company has executed a Pre-Series A round of ~KRW 2 billion (~USD 1.5M) led by The Ventures in October 2024, achieving 570% revenue growth in H1 2024 versus H1 2023 and earning the South Korean Minister of Environment Commendation in June 2024. The competitive positioning rests on combining physical UCO collection infrastructure across three Asian markets with proprietary AI measurement and a certified traceability data layer that maps directly to EU SAF regulatory requirements.

Name

ReFeed

Legal name

주식회사 리피드 (ReFeed Inc.)

Website

https://refeed.eco

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

1–10 employees

Short description

ReFeed is a Seoul-based IT/AI data platform that digitizes used cooking oil collection and traceability, supplying verified UCO to global oil refiners for Sustainable Aviation Fuel production across Korea, Vietnam, and India.

Ownership category

akta.pro rank

Product category

Waste Data and Used Cooking Oil Traceability Software

SIC

Refuse Systems (4953)

akta.pro primary industry

Biofuels & Renewable Fuels Switching (Biomethane/RNG, Bio-oils, Sustainable Biomass) (EUABAJAD)

Keywords

• Waste data solutions
• Used cooking oil traceability
• Circular economy software
• ESG reporting platform
• SAF feedstock tracking

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Supply Chain, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Used Cooking Oil Trading: Direct collection and export of verified used cooking oil (UCO) from Vietnam to global oil refiners for Sustainable Aviation Fuel (SAF) and bio-diesel production. Revenue generated from volume-based trading of UCO sourced from franchises, hotels, and food service companies. Currently serving US and European global oil refiners.
2. TheChium SaaS Platform Subscription: Subscription-based ERP software (TheChium) for waste/oil management provided to waste generators (F&B), waste collection companies, warehouses (좌상), and collection agents (중상) in Korea. Includes ESG reporting and accounts receivable modules.
3. ESG Reporting & Data Management Services: Monthly waste collection reports and ESG monitoring reports issued to corporate clients. Revenue from data management and certification-related services for enterprises needing documented sustainability compliance.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

ReFeed is a waste-data solutions company that provides IT-enabled used cooking oil (UCO) traceability and collection management. It sells TheChium, an ERP SaaS platform for source management, collection operations, ESG reporting, and accounts receivable, and operates ECO OIL, a direct UCO collection and export service in Vietnam that supplies verified feedstock to global oil refiners for Sustainable Aviation Fuel (SAF) production. Its technology stack includes a patent-pending AI computer-vision portable measurement device and an automatic AI-enabled UCO collection machine.

Product overview

ReFeed offers a unified platform combining waste cooking oil data management and collection services. The core offering consists of The Chium (더치움), an ERP solution for oil management, and ECO OIL, a Vietnam-based collection and trading service, supported by a Collection Data System for digital tracking. The integrated approach covers the entire waste-to-resource cycle from discharge source management to final recycling, enabling transparent traceability and ESG reporting.

Differentiator

Problem solved

Functional benefit

Brands

• TheChium (더치움): Waste management integrated management solution and used cooking oil collection ERP system for tracking waste oil from collection to disposal.
• ECO OIL

Products and services

• TheChium (더치움) ERP Platform All-in-one ERP for used cooking oil and waste management covering emission-source management, collection operations, monthly ESG reporting, and accounts receivable, targeted at Korean F&B operators, warehouses, refineries, and collection agents.
• ECO OIL — Verified UCO Collection and Trading Service Direct collection, certification, and trading of verified used cooking oil in Vietnam for export to global oil refiners producing SAF and bio-diesel, with monthly collection status and ESG reports issued to corporate clients.
• Flow Metric & AI Automatic UCO Collection Machine Automatic AI-enabled used cooking oil collection machine deployed in residential and commercial settings in Vietnam, providing app-based tracking and digital data capture for the first collection stage.
• UCO Collection Data System (Hand-Held Device + Order/CS Platform) Technology-based UCO collection system providing digital transformation for the first collection stage, combining a handheld collection device, traceability enhancement tooling, and an order/CS processing platform for collectors.
• Integrated Waste Management Solution (폐기물 통합 관리 솔루션) All-in-one outsourced waste management service for Korean F&B operators, hotels, resorts, and event venues covering vendor sourcing, processing by waste type, integrated result reporting, monthly collection and ESG reports, and waste upcycling product creation.

Quantifiable outcome

• 570% revenue growth in H1 2024 vs H1 2023
• +3 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature6 records

Partnerships

Five partnerships are on record, tiered core and minor.

• VinhomescoreStrategic or Co-development Partner · 1 November 2024Vietnam's largest real estate developer. Strategic partner for deploying automatic UCO collection machines in Vinhomes residential areas. Vinhomes promotes ReFeed/Eco Oil's green solutions to residents, contributing to Vietnam's net-zero commitment.
• Eco Oil Vietnam (이자사)coreStrategic or Co-development Partner · 1 November 2024Joint venture/subsidiary for Vietnam operations. Eco Oil Vietnam launched Vietnam's first automatic UCO collection machine. You Jeonghwan (유정환) is CEO of Eco Oil. ReFeed provides technology (Flow Metric, AI) while Eco Oil handles local operations.
• UNDP (United Nations Development Programme)minorStrategic or Co-development Partner · 1 November 2024UNDP Vietnam partnered with Eco Oil for Vinschool student education program on UCO recycling, fostering awareness and practical skills for sustainable waste management.
• KOTRAminorGTM or Marketing Partner · 1 January 2024Selected for KOTRA Service BM Support Program (2025). Korea Trade-Investment Promotion Agency supporting overseas market entry.
• 에코앤솔루션션 (Eco & Solutions)minorStrategic or Co-development Partner · 1 December 2022MOU signed December 2022 for bio-fuel activation collaboration.

Scale indicators13 records

Recent moves10 records

Expansion highlights7 records

Direct peers

• Argent Energy: UK-based producer of biodiesel from used cooking oil and animal fats. Operates in the same UCO-to-biofuel value chain as ReFeed, with vertical integration from collection through to fuel production. Comparable on feedstock sourcing dynamics and European market exposure.
• EcoCeres: Hong Kong-headquartered UCO and waste-based feedstock supplier for SAF and renewable diesel. EcoCeres is the most directly comparable peer — same business model of collecting and certifying used cooking oil for export to global refiners, with established supply chains across Asia and Europe.
• Winnow Solutions: UK-based AI-powered food waste management platform for commercial kitchens. Comparable to TheChium ERP in targeting F&B enterprises with digital tracking, ESG reporting, and waste reduction analytics. Both sell SaaS to hotels/restaurants for measurable waste management outcomes.
• Leanpath: US-based food waste prevention platform with hardware-software combo for commercial kitchens. Directly comparable to ReFeed's TheChium product line: enterprise SaaS for waste tracking, ESG reporting, and operational analytics at F&B and hospitality clients.
• Rubicon Technologies: US-based waste and recycling tech platform offering SaaS, smart-city routing, and ESG reporting to waste haulers and enterprises. Overlaps with ReFeed's data-platform strategy and ESG reporting capabilities for the waste value chain.

Broad incumbents

• Waste Management Inc. Largest North American waste and recycling services company with growing organics/waste-to-resource operations. Represents the entrenched incumbent threat — WM and peers have vastly more capital, customers, and route density to replicate ReFeed's model if they choose to enter Asian markets.
• Saria Group: European leader in UCO and animal by-product collection with biofuel feedstock operations across 25+ countries. Larger, more established player in the same UCO-to-biofuel feedstock space; competing for the same downstream refiner demand and offering a benchmark for what scaled UCO procurement looks like.
• Neste: Global leader in renewable diesel and SAF production with massive UCO/waste feedstock procurement operations. Functions as both a potential downstream customer for ReFeed's verified UCO and a benchmark for the value-capture opportunity at the refining end of the chain.
• SkyNRG: Dutch SAF producer and sustainable aviation fuel consultancy. Direct downstream buyer of verified UCO feedstock; comparable in mission (scaling SAF supply chains) but operates at the refining/production stage rather than collection.
• TotalEnergies: Integrated energy major actively building SAF capacity and UCO feedstock supply chains in Asia. Functions as a downstream offtake partner for ReFeed's verified UCO exports and as a competitor that could vertically integrate into collection if margins warrant.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/refeedeco

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

Funding overview

Funding rounds5 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ReFeed