Change Foods Closes Record-Breaking Seed Round; Signs Two Industry Collaboration Agreements To Fuel Innovation
Change Foods Closes Record-Breaking Seed Round; Signs Two Industry Collaboration Agreements To Fuel Innovation
02/15/22, 7:00 AM
Location
Round Type
seed
Change Foods announced a $12M Seed Extension round, bringing the total Seed investment to over $15.3M, a new record among precision fermentation companies. The over-subscribed round was led by Route 66 Ventures and included Upfield, Orkla, Green Generation Fund, Blue Horizon Ventures, Google icon Jeff Dean, Plug and Play Ventures, Clear Current Capital, Better Bite Ventures, Sigma and English soccer star Chris Smalling.
Company Info
Location
palo alto, california, united states
Additional Info
Additionally, the company signed two strategic collaboration agreements, the first with Upfield, the world's largest plant-based foods producer and global leader in plant-based butters, spreads, creams and cheeses, and owner of leading global brand Violife; and second with Sigma, a global food company with over $6.7 billion in annual revenues operating across the US, Latin America and Europe, with leading positions in cheese, yogurt, and other categories. The company creates dairy proteins – caseins, the fundamental building block of all dairy cheeses, without the cow, which serve as key ingredients for its animal-free cheese. By harnessing the power of microbes instead of animals to create real dairy proteins and fats, the company is producing animal-free dairy foods that are indistinguishable from their animal-based predecessors in taste and texture, while delivering products that are more sustainable and better for you. The company employs over 4200 Associates. With 68 plants and 210 distribution centers, the company produces, markets, and distributes quality branded foods, including packaged meats, cheese, yogurts, and other refrigerated and frozen foods. Change Foods is targeting late 2023 for its initial market launch. Change Foods is a US-Australian food tech company headquartered in Palo Alto, CA.