Today, Silicon Valley-based vegan startup Clara Foods announced that it has closed a Series B funding round led by global ingredient provider Ingredion. In 2016, the company raised $15 million in a Series A round to fund its development of a chicken-free egg-white protein made from fermented yeast. With the help of Ingredion, Clara Foods hopes to displace animal-derived egg ingredients in products, such as pasta and baked goods, with its nutritionally similar proteins. “We see extraordinary value in partnering with Ingredion to distribute our products globally and look forward to jointly transforming the status quo,” Arturo Elizondo, founder and CEO of Clara Foods, said. “Ingredion has been a global supplier to the food industry for more than a century and is as committed as Clara to satiating the massive unmet consumer demand for animal-free proteins.” The company will use the new funding to fast-track the commercialization of its flagship product, as well as to develop new vegan proteins to replace other animal products. “We’re excited to be working with Clara Foods as they have pioneered groundbreaking technology that allows a more sustainable and cost-effective production of proteins traditionally found in animal-derived products,” Tony DeLio, senior vice president and corporate strategy and chief innovation officer at Ingredion, said. “We see [a] tremendous need and increasing demand for highly functional animal-free proteins in multiple applications including foods, beverages, and supplements.” In partnership with Ingredion, Clara Foods will explore ways to make its products cheaper than their animal counterparts with the ultimate mission of decoupling proteins from the animals that produce them.
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