Nutriati Inc., a Richmond, Virginia-based foodtech startup, raised $8m in funding.
The round was led by Tate & Lyle Ventures and Powerplant Ventures with participation from NRV and Blueberry Ventures. In conjunction with the funding, T.K. Pillan, a co-founder of the vegetarian restaurant chain Veggie Grill, is joining Nutriati’s board of directors, along with David Atkinson, a managing partner of Tate & Lyle Ventures.
The company intends to use the funds to continue for R&D and commercialize its products.
Founded in 2013 by Richard Kelly, CEO, and Michael Spinelli, CTO, Nutriati is dedicated to formulating nutritious food products for a broad range of consumer tastes. The company has developed a process for turning chickpeas procured from Canada into a protein powder that can serve as a substitute ingredient for eggs, wheat, soy and milk in food products such as bars, shakes and brownies.
The company is based in the Virginia Biotechnology Research Park in downtown Richmond.