Mori, a Boston, MA-based food technology company, raised $16m in Series B financing.
The round was led by the Drawdown Fund with participation from previous investors Acre Venture Partners, The Engine, Prelude Ventures, Refactor Capital, Closed Loop Partners as well as new investor Knollwood Investment Advisory.
The company intends to use the funds to accelerate commercialization into numerous categories and geographies, while expanding its product development pipeline.
Led by Adam Behrens, CEO, Mori uses salt, water, and heat to extract protein from silk and create an all-natural and edible protective layer that keeps food fresher for longer. The patented technology can be integrated at any time from farm to shelf, allowing food producers, processors, and retailers to extend shelf life, reach new markets, and reduce waste.
The technology is currently protected by 21 patents, 27 patent applications, and trade secrets worldwide.
FinSMEs
15/04/2021