Israeli company Torr FoodTech has secured an undisclosed seed investment from SnackFutures, Mondelēz International’s innovation and venture programme.
Torr’s seed financing push was also supported by The Kitchen Hub, a food tech-focused incubator founded in 2015 by the Strauss-Group.
Torr produces snacks that claim to offer a unique and much healthier bite. Its proprietary technology brings together simple ingredients to offer what Mondelēz describes as ‘multi-textural, sensorial experiences’.
SnackFutures seeks to accelerate innovation through the creation of new brands and businesses, as well as through venture investments in start-ups.
Since launching in 2018, the ‘innovation hub’ has invested in brands including snack maker Hu Products and prebiotic food company Uplift.
“Our investment in Torr validates Mondelēz International’s venture approach that began almost two years ago with the launch of our SnackFutures model,” said Rob Hargrove, executive VP of research, development & quality for Mondelēz International.
“Ventures and partnerships with new, innovative organisations enable us to secure future growth, and we will continue to expand our SnackFutures approach into new markets in the future.”
Roy Naaman, CEO of Torr, added: “Through The Kitchen’s and SnackFutures’ investment, we have the opportunity to accelerate our technology platform and expand its application.
“We are committed to developing innovative products that are based on simple and healthy ingredients you can see and taste for consumers around the world.”
Mondelēz says that its investment in Torr is the result of a previously announced partnership between SnackFutures and The Kitchen.
Jonathan Berger, CEO of The Kitchen, said: “Through our ongoing collaboration with SnackFutures and Mondelēz International, we are able to provide unparalleled access and visibility into one of the world’s leading FoodTech ecosystems.”
© FoodBev Media Ltd 2020
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