Pea protein producer Novo Farina Ltd announces it has raised in excess of £3 million from private investors led by billionaire Richard Koch, the author and investor behind ventures such as Filofax, Belgo, Plymouth Gin, Betfair, Fanduel, and Auto1.
The Norfolk UK company uses whole yellow peas for its portfolio which includes its lead product INovo-TexTM – a texturised pea protein for meat alternatives, Pea Flour and Pea Crumb, for the food manufacturing industry, food services and retail, as well as its first end product launched last year – Simpleas Snacks, which are stocked by WHSmith, East of England Co-op, Amazon and independent retailers.
Koch noted today, “I am delighted to invest in Novo Farina, which has a unique series of healthy and ecologically sound food products and which is a terrific pioneer and star business.”
Dr Chris Harrison, Managing Director, commented “We are absolutely delighted that investor confidence in Novo Farina means that we can increase production and relocate to bigger and better premises giving us room for future expansion to keep up with the demand for our unique pea flour and protein products.”
