The funding will be used by the company to build an energy efficient ionized air generator which can optimise treatment effect in processing environment
Clean Crop Technologies has raised $2.75m in seed funding for the development of High Voltage Atmospheric Cold Plasma (HVACP) technology, which can reduce food waste and crop loss across food space.
Led by Prime Impact Fund with an investment of $1.6m, the funding round also saw participation from other investors such as Factor[e] Ventures, Innova Memphis, the Syndicate Fund, and the Alchemy Fund.
Clean Crop Technologies was founded by Dan White and Dan Cavanaugh, who have a combined experience of over 25 years in agricultural supply chains around the world.
The founders observed the lack of solutions to take care of the contaminants while working with maize and groundnut traders in sub-Saharan Africa. The contaminants prevented small farmers, traders and graders from realising the true value of their crops.
It is also believed that globally, mycotoxins, molds and pathogens result in estimated supply chain food wastage of 500 million tonnes and nearly 600 million cases of food borne illnesses every year.
The wastage is estimated to be worth $250bn and such food spoilage is more often found in regions with less developed agricultural infrastructure and technology.
White and Cavanaugh teamed up with one of University of Guelph Professors Kevin Keener, who had led research on HVACP and ionised air technologies for food safety over the past 20 years.
Clean Crop Technologies CEO Dan White said: “We are excited to be partnering with Prime Impact Fund, Factor[e] Ventures, and the rest of our investors to bring our breakthrough technology to market.
“This investment will enable us to accelerate R&D, and hone in on the best path to market for our tech. We look forward to leveraging our investors’ significant experience and networks in hardware R&D and agricultural markets in this exciting new phase for the company.”
Clean Crop to use funding to build an energy efficient ionized air generator
The start-up claims that its food processing technology combines air and electricity to create ionised gases which can remove up to 99% of molds and pests and up to 83% of toxins from grains and nuts without affecting food quality.
The funding will be used by the company to build an energy efficient ionized air generator which can optimise treatment effect in processing environment.
Clean Crop expects to begin field tests in the US later this year and plans to launch the product across emerging market and in the US from next year.
The funding will also be used to expand the technical and product development capacity on the team.
Prime Impact Fund Principal and Clean Crop Technologies Board Director Amy Duffuor said: “Prime Impact Fund is extremely proud to call Clean Crop our first agriculture investment. We have been continuously impressed by the team, and are excited by the prospect of scaling their technology, initially in a focused beachhead market and expanding into many categories of high-volume crops.
“We have conviction that Clean Crop can drastically reduce emissions in one of the largest greenhouse gas wedges, and build a large, self-sustaining business.”