US food-tech company Motif FoodWorks has raised a huge $226 million in its Series B funding round. The round was led by Ontario Teachers’ Pension Plan Board, along with funds and accounts managed by BlackRock.
Impossible Foods and Motif FoodWorks Settle Heme Patent Tech Dispute
Impossible Foods and Motif FoodWorks have announced a joint settlement agreement regarding the legal battle over a patent infringement of heme technology using yeast and precision fermentation. Under the deal, Impossible Foods would acquire Motif FoodWorks‘ heme-related business. The agreement also stipulates neither party can renew allegations or bring the issue back to court, reported AFN. With this settlement, Impossible Foods, which produces the protein soy leghemoglobin found in soy, has gained access to the intellectual property and expertise of Motif FoodWorks on the animal-free protein myoglobin, branded as HEMAMI. Both iron-bearing proteins, known as heme, are said to impart the taste, texture, red color, and bleeding features of animal meat to plant-based alternatives. A battle for a secret ingredient By 2021, Impossible Foods exclusively …