Nutriati is an ingredient technology company led by CEO Michael Todd that researches, develops and commercializes plant-based ingredients including protein, flour and oil. Its ingredients are low in saturated fat, cholesterol-free and designed to function as heart-healthy meat substitutes. They can replace eggs, provide oil and water binding capabilities and stabilize liquid suspensions. Ingredient applications include plant-based meats, non-dairy products (cheese, yogurt, ice cream, milk) and baked/snack goods such as tortillas, pretzels, puffs, gluten-free pasta, pizza crust and bread. In September 2019 the company raised $12.7M in a Series C and intends to use the proceeds to fund R&D, increase production and add customers. The company is based in Richmond, Illinois. Nutriati develops a process to turn Canadian chickpeas into a protein powder usable as a substitute for eggs, wheat, soy and milk in bars, shakes, brownies and similar products. The company was founded in 2013 by Richard Kelly (CEO) and Michael Spinelli (CTO) and is based in the Virginia Biotechnology Research Park in downtown Richmond. Nutriati intends to use the newly raised funds to continue R&D and to commercialize its products. The product targets formulators and manufacturers seeking plant-based functional protein that can replace multiple allergenic or animal-derived ingredients. The article does not report revenue, users, or other operating metrics. Management has augmented its board in conjunction with the financing to support commercialization efforts.

Total raised

$21M

Funding rounds

2

Latest round

Series C

Latest activity

Dec 2019