Clara Foods, a specialist in the engineering, manufacturing and formulating of animal- and plant-based protein, has announced its Series B financing, led by ingredients solutions provider Ingredion.
The funding round, the company has said, will go towards the development of ‘chicken-less’ egg proteins, expand research and development capabilities, and will extend its capacity for research into other animal proteins beyond egg white-based products.
The announcement comes after four years of development Clara Foods has undergone for its protein solutions, and has raised $15 million through its Series A funding, led by The Production Board in 2016. Other investors joining Ingredion in this round include B37 (a strategic partner of Grupo Bimbo, the world’s largest baking company), Hemisphere Ventures, and SOSV.
Clara also announced a global partnership agreement with Ingredion, which will allow both companies to work together on new developments within the plant-based protein space.
Arturo Elizondo, founder and CEO of Clara Foods, said: “We see extraordinary value in partnering with Ingredion to distribute our products globally and look forward to jointly transforming the status quo.
“Ingredion has been a global supplier to the food industry for more than a century and is as committed as Clara to satiating the massive unmet consumer demand for animal-free proteins.”
© FoodBev Media Ltd 2019