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Silicon Valley, US-based venture capital firm Pegasus Tech Ventures has partnered with Japanese snacking giant Calbee.

Through this partnership, Pegasus will connect Calbee with start-ups that are developing innovative new products and technologies in the US, Europe, Israel and Asia.

Calbee hopes to work with start-ups to create new healthy snack foods, new production techniques, new business models and other innovations that will contribute to all parties’ growth and success.

Masae Nakano, managing executive officer and CTO of R&D at Calbee, said: “The Calbee Group is strong in the snacks and cereals business in Japan, but we aim to further expand into the new food areas of the future. We intend to utilise Pegasus' long-standing track record in the field of open innovation and its global network to identify technologies and services that will be the seeds for next-generation product development and create new value at Calbee."

Anis Uzzaman, founder and CEO of Pegasus, commented: “Pegasus has been pioneering innovation in the foodtech sector by investing into world-class start-ups such as Impossible Foods. We believe that the collaboration between multinational corporations and the startup ecosystem will enable us to build a future where we can grow together by sharing advanced technologies and knowledge and encourage further innovation.”

Uzzaman continued: “Through this partnership we will provide Calbee with information and ideas for innovative ventures not only in the food sector, but also in all related industries, and provide expert support to ensure that the partnership with the start-up company proceeds smoothly. With this support, we aim to effectively expand the global market footprint for Calbee, drive industry-leading innovation and deliver valuable results.”

To date, Pegasus has invested in more than 260 venture-backed companies worldwide, including SpaceX, X (Twitter), Airbnb, GrubMarket and DoorDash.

Founded in 1949, Calbee specialises in a wide range of potato, wheat, corn and bean-based products. As part of its growth strategy, Calbee secured a licensing agreement with PepsiCo, enabling it to produce and distribute several Frito-Lay snacks.

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