Motif Ingredients, the company launched in February by biotechnology business Ginkgo Bioworks, has secured $27.5 million in additional funding led by growth equity firm General Atlantic, with participation from CPT Capital.
The company has also revealed a new brand identity and name, Motif FoodWorks, and announced a number of additions to its leadership team.
With the new funding, Motif plans to accelerate its product pipeline of alternative proteins, expand academic collaborations, scale its science and regulatory staff, and deepen its research and development efforts.
As part of its Series A funding round earlier this year, Motif secured the backing of Fonterra, Louis Dreyfus Company, and Viking Global Investors.
“Since launching the company we’ve seen an incredible response from the industry; it’s clear that the movement towards animal-free is no passing fad. Food leaders know that to get it right, however, there can be no compromise between taste and values,” said Jon McIntyre, CEO of Motif.
“Our team of experienced scientists and passionate food lovers are working relentlessly to ensure our products — as well as our brand — deliver on that exciting and critical challenge.”
Motif said the new brand name recognises its technology partnership with Ginkgo Bioworks, powering its ambition to reshape the landscape of food through science and technology.
McIntyre added: “The momentum at Motif is palpable, and we have an exciting road ahead. Powered with funds, technology and a team of incredibly talented food-lovers, we are moving closer to our mission to develop animal-free and plant-based ingredients that are more nutritious, more accessible and more sustainable for our planet.”
© FoodBev Media Ltd 2020
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