Nutriati will use the investment to support its R&D activities and increase production
Image: Nutriati produces plant-based ingredients such as protein, flour and oil. Photo: courtesy of diapicard from Pixabay.
Private equity firm Manna Tree Partners has made a growth investment in US-based plant-based ingredients maker Nutriati.
Nutriati is involved in the research, development and commercialisation of plant-based ingredients such as protein, flour and oil.
Nutriati will use the investment for its research and development (R&D) activities, as well as to increase production and add customers.
Anchor investor Manna Tree was joined by Open Prairie, an existing investor in Nutriati in the $12.7m series C funding round.
Manna Tree has joined the funding round via Open Prairie Rural Opportunities Fund, a growth-stage private equity fund licenced by the USDA as a Rural Business Investment Company. It provides capital to agribusiness companies across rural America.
Manna Tree Partners COO Brent Drever said, “Nutriati uses science and technology to produce healthier ingredients, with an emphasis on taste, texture and nutrition.
“We are proud to partner with Michael Todd and his team, which is committed to the research, development and commercialization of innovative and sustainable ingredients. As demand rises for healthier eating, Nutriati is well-positioned to grow for years to come.”
Nutriati’s ingredients can be used in a variety of customer categories
Nutriati uses pulses to ingredients, which can be used in different customer categories, including healthy snacks, beverages, plant-based meats, pasta, non-dairy cheese and baked goods.
The company’s ingredients, which replace eggs, provide oil and water binding capabilities and stabilise liquid suspensions.
Nutriati is said to source non-GMO raw materials and use sustainable farming techniques. Nutriati markets its flour and protein under Artesa brand.
Nutriati CEO Michael Todd said: “Manna Tree’s investment, alongside the recent funding from Open Prairie, will accelerate our growth, enable us to develop more innovative ingredients, increase production and reach new customers.
“Brent and the Manna Tree team share our commitment to improving the quality of the food supply with healthier, better tasting options for consumers. In addition to capital, our strong investor base brings expertise and a deep network that will fuel our responsible growth.”