Nandi Proteins Secures £500,000 for Egg White Replacer for “Undesirable Ingredients”
Food science innovator Nandi Proteins has secured over £500,000 in funding through a convertible loan from investors including Nesta, the UK’s social innovation agency, and Scottish Enterprise. The new capital will support the development of the company’s egg white replacer for gluten-free bakery and mycoprotein alternatives, which has attracted “strong interest” from manufacturers. Nesta Impact Investments (NII), Nesta’s investment arm, has pledged to support an upcoming equity raise with an additional £1 million to complete the target of £1.5 million. The VC Frontier IP holds a 19.7% equity stake in Nandi Proteins. CEO David Flower shared, “We are delighted with this funding from Nesta and Scottish Enterprise and Nesta’s commitment to invest in our equity raise. It provides further validation for our innovative food ingredient …