These are a few US-based foodtech startups that raised funding recently:
1. Food and Nutrition Company Qualitas Health Raises US$ 10M in Funding
Houston, Texas-based Qualitas Health secured US$ 10 million in venture funds at a US$ 73 million post-money valuation on 11 January 2021 in the first close of its new funding round.
Qualitas Health is a food and nutrition company that aims to revolutionize the way we nourish humanity by unleashing the potential of algae. It is an industrial leader in algae cultivation. Qualitas Health has developed a proprietary platform to launch its fully sustainable, vegan, algae-based nutritional products at scale. The company has more than 10 years of experience in microalgae farming, cultivation, and extraction.
Investors: The funding round was led by food tech investor PeakBridge VC, Malta, and Arancia Group, a privately owned Mexico-based food service conglomerate, Minrav and additional private investors.
What the funding is for: The funds will be utilized to accelerate customer acquisition and commercialization of the company’s unique plant-based protein. The funds will also help the company to deepen its strong clinical science and IP and expand into new markets.
What the CEO has to say: “This investment will be instrumental to accelerating growth in 2021 as iwi advances to the industrial pilot stage of our unique plant-based protein, start the regulatory process, and conducts additional clinical studies. This uniquely sourced, complete plant protein will be ready for commercialization in 2022,” said Miguel Calatayud, CEO of Qualitas Health.
What Investors have to say: “Qualitas ticks all the boxes for meeting our investment criteria. It has strong intellectual property, proven scaling capabilities, and tremendous sustainability impact, all of which give iwi a unique edge within the plant-based nutrition industry. We welcome Qualitas and its new and existing investors to the PeakBridge family,” said Nadav Berger, co-founder and Managing Partner of PeakBridge.
2. Consumer Health Brand Muniq Raises US$ 8.2M in Series A
Los Angeles, California-based consumer health and food-tech brand Muniq raised US$ 8.2M in a Series A investment round on 12 January 2021.
Muniq helps people regain control of their health through its breakthrough science-based nutrition solutions. It was launched by its parent company Uplifting Result Labs. Its patent-pending line of nutritional shakes is a powerful prebiotic fibre which will promote a healthy gut microbiome, improve the body’s natural ability to manage blood sugar and strengthen immunity.
Investors: The funding round was led by Alpha Edison, Acre Venture Partners. Other participants include former NBA all-star and investor Baron Davis and founder of SimplyProtein Cathy Richards.
Founder: Marc Washington
What the funding is for: The funds will be utilized by the company to expand its portfolio of health-transforming products, build the internal team, raise brand awareness and advance its clinical research.
What the CEO has to say: “I created Muniq in honour of my late sister, Monica, who suffered from diabetes and other chronic health issues. It’s always been my aspiration to help people regain control over underlying conditions, with products that can literally transform their health and that actually taste good. I’m inspired every time I hear about the life-changing impact Muniq is having on our customers’ lives. And personally, as a Black founder, I am passionate about Muniq being part of the solution to help address the vast health disparities affecting Black and Brown communities,” said Marc, CEO of Muniq.
What Investors have to say: “Muniq has established a solid foundation in science and efficacy based on the rapidly emerging clinical research on the gut microbiome. The life-changing results experienced by Muniq customers exemplify the brand’s vast potential to address some of the most pressing health epidemics of our time. Marc is a mission-oriented and visionary leader and we’re excited to support Muniq in building a better and healthier world,” said Nate Redmond, Managing Partner at Alpha Edison.
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