UK-based Clean Food Group has successfully secured an additional €2.7 million in funding to advance its innovative technology aimed at producing sustainable oils and fats. This significant financial boost comes from a mix of international investors, including industrial food specialists and investment companies focused on health and sustainable food production. The startup is poised to make a substantial impact on the food and cosmetics industries by addressing critical sustainability and supply chain challenges with its groundbreaking technology.
The fundraising stage currently sits in a pre-Series A phase, with Clean Food Group having raised a total of approximately £2.3 million (€2.7 million converted to pounds sterling for consistency). The investment round saw contributions from notable investors such as the Doehler Group, an industrial food specialist; Alianza Team, further emphasizing the global food industry’s shift towards sustainability; Agronomics, a leading investment company in Cellular Agriculture; and SEED Innovations Ltd, an AIM-listed fund targeting global health opportunities. This diverse investor base underlines the broad appeal and potential impact of Clean Food Group’s technology.
With this additional funding, Clean Food Group is set to accelerate the scaling of its technology platform and progress through crucial regulatory and commercial milestones. The company anticipates completing a Series A funding round in 2024, by which time it aims to have validated its technology at a commercial scale and be on a clear path to generating revenue. The funds raised in the Series A round will primarily support the development of a commercial-scale manufacturing facility, marking a significant step forward in the startup’s growth trajectory.
Beyond funding, Clean Food Group has forged strategic partnerships and bolstered its operational team to enhance its technological and commercial capabilities. Recent agreements with Alianza Team and Doehler Group aim to scale the startup’s fermentation process for regulatory approval in cosmetics and food applications. The operational team has been strengthened with key hires, including Dr. James Mercer as Head of Manufacturing and Scale-up and Andrea Cattaruzza as Head of Product, bringing decades of experience from leading companies in related fields. These developments underscore Clean Food Group’s commitment to innovation and operational excellence.
In conclusion, Clean Food Group’s latest funding round and strategic initiatives set a strong foundation for its future growth. By leveraging pioneering research and innovative technology, the startup is well-positioned to offer sustainable alternatives to traditional oils and fats, with significant implications for the food and cosmetics industries. As it moves towards a Series A funding round and further commercialisation, Clean Food Group stands at the forefront of sustainable food technology, promising to make a lasting impact on global food production and consumption patterns.
