Big hitters back UK FoodTech startup Clean Food Group as it preps Series A funding round in 2024
UK-based biotech business Clean Food Group, which delivers sustainable oils and fats solutions to food and cosmetics manufacturers, has secured £2.3 million in funding.
This has come from Doehler Group and Alianza Team.
Agronomics and SEED Innovations also participated in the round.
The cash will enable Clean Food Group to accelerate the scale-up of its technology platform while advancing critical regulatory and commercial pathways.
It expects to complete a Series A funding in 2024, by which time it says it will have validated the technology at a commercial scale and have a clear line of sight to near-term revenue generation.
It will raise funds at Series A to support the build out of a commercial scale manufacturing facility.
In addition to a collaboration agreement with Alianza Team, announced in August, Clean Food Group also recently signed a services agreement with Doehler Group, designed to rapidly scale its fermentation process to a commercial level, and enable the manufacture of product batches required for regulatory approval for cosmetics and food applications.
Additionally, the company has hired Dr. James Mercer as Head of Manufacturing and Scale-up, and Andrea Cattaruzza as Head of Product.
Mercer will be responsible for the scale-up of its technology and brings over 25 years of experience in industrial fermentation and scale-up of alternative proteins, having previously held senior operational roles at Quorn, Croda, and DuPont, amongst others.
Cattaruzza brings 30 years of experience from Mars Global Chocolate, most recently as Director of Science, and will drive Clean Food Group's product strategy.
Clean Food Group Co-founder and CEO Alex Neves says: "We are delighted with the rapid progress the business has made in the past year.”
“The successful conclusion of this current funding round validates the important strides our business is taking in solving critical sustainability and supply chain challenges facing our food and cosmetic manufacturer customers.”
“We are now in a great position to validate our technology at a commercial scale, advance our regulatory pathways and develop our growing list of commercial partners in advance of our Series A next year.”
Continue reading…