Aseptia Announces Closing of $28 Million Series C Financing
RALEIGH, N.C., March 4, 2014 /PRNewswire/ -- Aseptia, a Raleigh, NC-based food processing technology company, announces the closing of a $28 million Series C Preferred Stock financing. Wright Foods is the wholly owned manufacturing subsidiary of Aseptia, Inc. Aseptia/Wright Foods utilizes state-of-the-art technology developed at North Carolina State University. This financing is to support the growth of Wright Foods' operation in Troy, NC. Investors in the Series C financing include Lookout Capital, SJF Ventures, Prudential, and the F.B. Heron Foundation.
"We are grateful for the opportunity to invest in Aseptia and look forward to working with the company's team," commented Merrette Moore, Founder and Managing Director of Lookout Capital, "We believe the company's technology and process have revolutionary implications for the food industry."
Aseptia has a novel, patented technology enabling the production of shelf-stable food products that maintain the flavors and nutrients of fresh food without the use of preservatives or refrigeration. The process also saves energy, packaging material and distribution costs while maintaining over 12 month shelf life, enhancing food safety, and improving product quality and nutritional value. The company opened its Troy, NC based food manufacturing facility in August 2012. Wright Foods produces a wide range of premium food products including fruit sauces, tomato products, vegetables, soups and beverages. Several major food companies are customers.
"We are excited to have Lookout Capital, Prudential, and the F.B. Heron Foundation join the investor group as Aseptia continues its rapid expansion to meet the market demand for its game-changing technology," said David Griest, Managing Director of SJF Ventures. Proceeds from the financing will be used primarily to fund Wright Foods' operations and allow the company to execute its growth plan. The company will continue to build out its experienced management team and leverage its unique platform in the food processing market.
"We are excited to have such an incredible group of investors," said J. Michael Drozd, President/CEO of Wright Foods. "Their networks and experience will be invaluable to us as we grow our business."
About Wright Foods: Wright Foods' mission is to provide the best tasting, most nutritious, and highest quality shelf-stable foods for its customers. The Wright Foods team combines extensive experience in food manufacturing, vast technical expertise in aseptic processing, and a deep entrepreneurial spirit with a drive to innovate. As the technology leader in shelf-stable food processing, Wright Foods is capable of creating food products unmatched by any other food producer in the world, customized from concept to plate. Wright Foods is a subsidiary of Aseptia, Inc.
For more information on Wright Foods, please visit: www.WrightFoods.com
SOURCE Aseptia; SJF Ventures