London-based Clean Food Group raises £2.3M for sustainable oils
Clean Food Group, a London, UK-based food-tech business, recently announced that it has raised an additional £2.3M in funding. This brings the total amount raised by the company to £10m. The round of funding saw participation from investors such as Doehler Group, Alianza Team, Agronomics, and SEED Innovations. The company intends to use the funds to accelerate the commercialization of its sustainable oils and fats technology.
Clean Food Group, led by CEO Alex Neves, specializes in delivering sustainable oils and fats solutions to food and cosmetics manufacturers around the world.
The company's mission is to deliver ingredients that have a positive impact on the economic, environmental, and social health of the planet. They achieve this through their proprietary technology platform, which utilizes scalable yeast strains and fermentation technology. This technology allows them to create sustainable alternatives to traditional oil and fat ingredients, using food waste as the source.
The company has ambitious plans for the future. They expect to complete a Series A funding round in 2024, during which they aim to validate their technology at a commercial scale and generate revenue. This funding will be used to support the construction of a commercial scale manufacturing facility. Additionally, Clean Food Group has recently signed collaboration and services agreements with Alianza Team and Doehler Group, respectively. These agreements will help them scale their fermentation process and manufacture product batches required for regulatory approval in the food and cosmetics industries.
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