Joywell Food, a Devis, CA-based food technology and consumer goods company, raised $25M in funding.
The round was led by Piva Capital, with participation from B37 Ventures, Global Brain Corporation, Khosla Ventures, Evolv Ventures, SOSV’s IndieBio and Alumni Ventures. As a part of the transaction, Piva Partner and Co-Founder Adzmel Adznan will join Joywell’s board.
The company intends to use the funds to continue to accelerate R&D and scale up for commercialization across its entire sweet protein platform.
Led by CEO Ali Wing, Joywell Foods is a food technology and consumer goods company that utilizes a proprietary microbial fermentation process to produce nature-identical sweet proteins found in exotic fruits and berries. Over the past 12 months, the company has scaled its sweet protein platform across multiple proteins, developing consumer products and gearing up for launch.