Nutrition Innovation, a food and technology company developing sugar innovation, raised $5m in Series A funding.
The round, which brought NI’s valuation to $40m, was led by VisVires New Protein (VVNP), with participation from Enerfo Group.
The company intends to use the funds to expand into North American markets.
Founded in Singapore in 2017 by Chairman Dr. David Kannar and led by CEO Matthew Godfrey, Nutrition Innovation has advanced technology that allows global sugar companies to produce Nucane™, a range of naturally low glycemic sugars designed for both sugar replacement and sugar reduction by up to 70%. These technologies can be licensed to the industry to be produced at scale for all major food and beverage brands.
Their first licensed technology, Nucane Raw Sugar, has already been deployed in key markets of Asia-Pacifc (Australia, Malaysia and New Zealand), Latin America and Africa.
In these markets, Nucane Raw Sugar is already being used and tested by a number of food and beverage companies.
NI maintains operations in Singapore, Brazil, Australia, Thailand and California.