Joywell Foods (previously known as Miraculex), a Davis, Calif.-based food technology company developing a sweet protein portfolio, closed a $6.9M Series A financing round.
The round, which brings total funding to $13.2M, was led by Evolv Ventures, a venture fund backed by Kraft Heinz, with participation from both Khosla Ventures and SOSV, alongside Alumni Ventures Group and other investors.
The company intends to use the funds to develop its technology platform and processes for commercial scale. the build-out of its proprietary technology platform, broaden its sweet protein portfolio and expand R&D operations.
Led by Karen Huh, CEO, Joywell Foods is a food technology company building a new category of foods based on naturally sweet proteins. These proteins are derived from exotic fruits that evolved to provide sweetness without sugar or negative health impacts. The proprietary technology platform produces proteins using both plants and fermentation technology.
The first protein is miraculin, which is sourced from the miracle berry fruit.