USA – American plant-based ingredient maker, Nutriati has raised US$12.7 million in a Series C Funding round to support research and development, increase production capacity and expand its footprint.
The funding round was led by private equity firm Manna Tree with participation from Open Prairie, an existing investor in Nutriati, through its Open Prairie Rural Opportunities Fund.
Nutriati is an ingredient technology company focused on the research, development and commercialization of plant-based ingredients, including protein, flour and oil.
Nutriati uses pulses to produce best-in-class ingredients including protein, flour and oil; pulses are a category of superfoods that includes beans, peas, lentils and chickpeas.
The company’s ingredients replace eggs, offer oil and water binding capabilities and stabilize liquid suspensions.
Its ingredient applications include: plant-based meats, non-dairy (cheese, yogurt, ice cream, milk), tortillas, pretzels, puffs, gluten free pasta, pizza crust and bread.
Open Prairie partner and Nutriati board member Tom Doxsie stated, “Nutriati is at the forefront of the plant-based trends being adopted by many of today’s consumers.
“Through proprietary processing and innovative product development, Nutriati is providing superior solutions to food and beverage companies for plant-based protein and non-dairy applications.”
Manna Tree Partners COO Brent Drever said, “Nutriati uses science and technology to produce healthier ingredients, with an emphasis on taste, texture and nutrition.
“We are proud to partner with Michael Todd and his team, which is committed to the research, development and commercialization of innovative and sustainable ingredients. As demand rises for healthier eating, Nutriati is well-positioned to grow for years to come.”
Michael Todd, CEO of Nutriati, said, “Manna Tree’s investment, alongside the recent funding from Open Prairie, will accelerate our growth, enable us to develop more innovative ingredients, increase production and reach new customers.
“Brent and the Manna Tree team share our commitment to improving the quality of the food supply with healthier, better tasting options for consumers.
“In addition to capital, our strong investor base brings expertise and a deep network that will fuel our responsible growth.”