Participated · Equity · Sep 2022

Nutrition Technologies creates a commercial replica of the natural decomposition process, using proprietary growth inoculants and black soldier flies (Hermetia illucens) to upcycle low-grade crop and food waste. The company operates a two-hectare production facility in Johor, Malaysia that bioconverts several hundreds of tonnes of organic waste every week. Its facility produces functional proteins and oils containing bioactive compounds that improve animal growth performance and health outcomes. Nutrition Technologies has conducted multiple trials of its products on fish, shrimp, poultry, piglets and pets with significant results. Its novel biofertiliser products are designed to improve soil health and increase plant resistance to disease, reducing the need for chemical pesticides. The company is led by Nick Piggott and Tom Berry and plans to use new funding to expand into new markets, launch new products, accelerate R&D and create strategic partnerships. Nutrition Technologies produces insect-based protein for fish and animal feed using black soldier fly (BSF) larvae, turning food waste into high-value feed ingredients and organic fertilisers. CEO and founder Nick Piggott says the company aims to reduce pressure on wild fisheries and the environmental impact of industrial fleets. The company secured an $8.5 million Series A led by OpenSpace Ventures and SEEDS Capital (the investment arm of Enterprise Singapore) to scale commercial production. Proceeds will fund a high-tech commercial-scale insect protein facility in Southeast Asia targeting production of over 18,000 tonnes of insect-based feed ingredients and organic fertilisers per year. Nutrition Technologies plans to move into industrial-scale production in early 2020 and says it already has demand from large feed manufacturers in Malaysia and repeat orders from South Korea and Japan. The Singapore Food Agency has approved use of black soldier fly larvae as fish food, supporting the company’s regulatory pathway for animal feed applications. The company is prioritizing animal feed markets (aquaculture, swine and poultry) and views human consumption as a limited near-term opportunity.

Led · Debt Financing · Apr 2015

Sustainable Agro-commercial Finance Ltd (SAFL) is a retail agriculture finance–focused NBFC promoted by Jain Irrigation that lends for micro‑irrigation systems, agri projects, lift irrigation schemes, small business and farm equipment, and solar pumps. The company reported total loan outstanding of ₹160 crore as on March 31, 2015 and an average ticket size of about ₹1 lakh. SAFL raised fresh capital to expand its agriculture lending business and broaden its rural and semi‑urban reach. It plans initial geographic expansion in Maharashtra, Karnataka and Telangana, followed by Madhya Pradesh and Gujarat. Management targets a loan book of ₹350 crore by the end of the fiscal year (March‑end FY16) and ₹1,500 crore within five years. After the recent fundraise the company’s total capital stood at ₹208 crore.

Led · Series D · May 2014

Arcadia Biosciences develops agronomic performance and nutrition trait technologies aimed at improving environmental outcomes and human health. Its trait portfolio includes Nitrogen Use Efficiency, Water Use Efficiency, Salt Tolerance, Heat Tolerance, and Herbicide Tolerance; it also markets SONOVA® 400 GLA safflower oil. The company has granted more than 70 technology licenses worldwide and reports licensee progress across multiple crops. Arcadia is pursuing regulatory submissions based on Nitrogen Use Efficiency data and notes regulatory field trials for stress-tolerant soybeans (via Verdeca LLC, its joint venture with Bioceres) completed in Argentina and the US, with a first submission anticipated in 2014. Proceeds from the Series D will be used to accelerate development and commercial launch of products and to generate key data for commercial regulatory approvals. The company is based in Davis, California. Arcadia Biosciences develops agricultural technologies and health-oriented grain products, including agronomic traits such as nutrient use efficiency, water efficiency, salt tolerance, heat tolerance, and herbicide tolerance. The company is advancing a research program to identify genetic variants that naturally reduce the most harmful components of gluten in cereal grains. Arcadia’s internal research team will collaborate with Dr. Karol Sestak at Tulane University on the current project. The work builds on a prior NIH award conducted with Dr. Diter von Wettstein at Washington State University. The company says its goal is to create wholesome reduced-gluten grains to expand food choices for people with gluten intolerance and celiac disease. Arcadia is based in Davis, Calif. Arcadia Biosciences is a Davis, CA-based agricultural technology company developing technologies and products intended to benefit the environment and human health. The company is working on wheat varieties with reduced celiac disease–causing proteins and applied TILLING® high-throughput genetic screening in Phase I to identify low-toxic-protein plants. Arcadia received a two-year, $855,500 STTR Phase II grant funded by the NIDDK and the ARRA to support Phase II development in partnership with Washington State University. Phase II will take a broader approach to remove a larger number of toxic proteins while maintaining proteins critical for bread-making. Arcadia believes removing targeted toxic proteins could increase beneficial proteins and potentially yield more nutritious bread. The company operates additional facilities in Seattle and Phoenix and expects to complete Phase II research in mid-2011; no commercialization timeline has been released. Arcadia Biosciences is a Davis, Calif.–based company that engineers crops for agricultural efficiency and human-health qualities. Its first commercial product is GLA Safflower Oil, modified for high gamma-linolenic-acid (GLA) content to make foods containing it more hearty and healthy. Arcadia plans to launch the GLA Safflower Oil by the end of the year in partnership with Bioriginal Food and Science. The company has previously developed infused canola oil and rice and has engineered corn and wheat plants that require less nitrogen fertilizer to thrive. Financially, Arcadia raised $15 million in a recent second round led by Exeter Life Sciences and had previously raised $30 million. An additional $10 million is noted in connection with its 2005 purchase of agricultural firm Anawah.