Food innovator Whole. has raised $1.5 million to fund the development of its technology, which reduces waste and enhances efficiency in the production process.
Food innovator Whole. has raised $1.5 million to fund the development of its technology, which reduces waste and enhances efficiency in the production process.
Food innovator Whole. has raised $1.5 million to fund the development of its technology, which reduces waste and enhances efficiency in the production process.
Whole. this week announced the completion of its seed funding round with an undisclosed investment from GrainInnovate, a $50 million agrifood tech investment established to support the future profitability and sustainability of Australia's grain growers.
GrainInnovate is a joint venture between Artesian, a $1 billion agriculture-focused fund manager, and the Grains Research and Development Corporation.
Whole. co-founder and CEO Nick Stamatiou said the investment completed the firm’s seed round, amounting to a total of $1.5 million, much of it raised late last year. The company has raised about $2 million since inception.
The new funds were to support the company’s ongoing research and development activities, as well as the market launch of its proprietary food processing technology, WINX.
Formerly Whole Green Foods, the business was started about five years ago with the aim to recover spoiled or rejected food through a process that used immense pressure, followed by rapid release, to break down plant cells to a very size small.
The result is an inert product, free of bacteria, that can be comfortably dealt with by the typical palate and more easily digested.
Applications vary greatly from increasing the nutritional value of food to enhancing flavours in a way our tongues may never have encountered.
The technology has already been applied in trials to create oat milk free of additives, stabilisers or oils and gums.
Mr Stamatiou’s co-founders are inventor Cedric Cross and veteran technology investor Ivan Gustavino.