Australian fermented fats producer Nourish Ingredients, founded by scientists Dr. James Petrie and Dr. Ben Leita, announces today a raise of $11 million (USD) of investment from Horizons, the venture firm of Hong Kong billionaire Li Ka-Shing, as well as the Australian government’s Main Sequence Ventures.
Nourish Ingredients Raises $28.6M for Animal-Free Speciality Fats
Australian food tech company Nourish Ingredients has raised $28.6 million USD in Series A funding. The round was led by Horizons Ventures, with support from MainSequence Ventures and Hostplus. Nourish uses precision fermentation to produce fats identical to those found in animal products. Founders Dr. James Petrie and Dr. Benjamin Leita believe that replicating animal fats is a vital step in convincing meat lovers to transition to alt proteins. The new funding will be used to scale production and extend product development. In part, this will be done via partnerships with leading institutions worldwide, including The University of California Riverside (UCR), Australia’s national science agency CSIRO, the University of Nottingham, UK, and Deakin University. Fattening up plant-based food Previously, Nourish raised $11 million in a …
