Nutrition Technologies receives USD 20 million funding in equity round

By Garima Soni  | Date: 2022-09-20

Nutrition Technologies receives USD 20 million funding in equity round

Asias first industrial insect company, Nutrition Technologies has successfully accumulated a sum of USD 20 million in its equity venture round. This funding would reportedly aid the company in launching new products, undertaking strategic partnerships, and accelerating R&D activities respectively.

The equity round was spearheaded by PTT Ventures with open participation from ING Sustainable Investments, Sumitomo Corporation, Mandala Capital as well as a pool of existing investors including SEEDs Capital, Openspace Ventures, and Hera Capital.

For those unaware, Nutrition Technologies is a Singapore-based agri-biotech company that has been successfully replicating the natural decomposition process, within the commercial arena since 2015, using their very own growth infusions and black soldier flies to transform low-grade crop and food waste into highly effective biofertilizers and animal feed ingredients.

Additionally, Dr. Buranin Rattanasombat, the Senior Vice President of the Innovation and New Ventures wing within PTT said that the funding company is steadily expanding its portfolio to include new businesses that are in line with global trends such as sustainability and social responsibility.

In addition, he claimed that PTT would wholeheartedly enter into a mutually beneficial partnership with Nutrition Technologies as the biotech giant possesses the capability to solve several problems that the world is currently facing with its innovative solutions, including commercial insect protein production.

Additionally, the partnership plans to revolutionize the agricultural sector and provide consumers with numerous avenues to improve the provided their life.

However, other corporations have also responded to the newest investment in a similar fashion, with Mark Weustink, Head of ING Sustainable Investments, assuring that joining hands with Nutritional Technologies would play a key role in extending the former’s arm into the rapidly expanding European and Asia Pacific markets for alternative proteins.

Welcoming the new investors with open arms, Tom Berry, Co-CEO and Co-founder, of Nutrition Technologies states that the company as a whole is deeply humbled by their continued support and expertise in the business, and further it will turn out to be a gainful opportunity for the biotech corporation for their future endeavors.

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Garima Soni

Garima Soni

Despite starting her career in science, Garima always had a zeal for writing. She started out her writer journey as a freelancer which eventually turned into a full-time job. Now as an upcoming MBA professional, Garima pens down articles for BonafideNews and several o...

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