BluWrap Secures $12.6M in Funding
New Round of Funding led by Wheatsheaf Investments, Opens Door for Global Expansion
SAN FRANCISCO, Nov. 5, 2014 /PRNewswire/ -- BluWrap, the technology company that naturally extends the shelf life of fresh proteins announced today it has secured $12.6M in equity financing, led by Wheatsheaf Investments Ltd., part of the Grosvenor Estate. BluWrap will use the funds to accelerate adoption of its technology, secure new global sources of protein supply, expand into new global geographic markets, further develop its capabilities in other species of seafood and pork, and develop the next generation of its technology. Existing investors, Anterra Capital, Firelake Capital and Rabo Ventures, also participated in the round.
"We're extremely excited that Wheatsheaf Investments has seen the potential in BluWrap's technology to challenge the status quo in the fresh protein logistics supply chain and reduce the harmful impact on our environment to feed more of the world's population," said Mark Barnekow, Chief Executive Officer of BluWrap. "Wheatsheaf Investments' goal of investing in and developing businesses that will contribute solutions towards meeting the growing global demand for food, water and energy in the face of a rapidly changing world population, is perfectly in line with BluWrap's vision of revolutionizing the way fresh proteins are transported around the world."
"We have been very impressed with the progress that BluWrap has made with its technology and market acceptance," said Anthony James, Chief Investment Officer at Wheatsheaf Investments. "This investment into BluWrap, will provide the company with the financial resources it needs to become a world-class alternative for shipping fresh proteins around the globe using the most environmentally sustainable methods."
Compared to the costly alternative of air freight, BluWrap's technology allows for the reduction of CO2 emissions by over 99 percent without using ice or environmentally harmful polystyrene packaging. BluWrap's technology maintains an all-natural, controlled atmosphere environment so fish and other perishable proteins arrive by sea freight in the destination market with the same fresh quality as the day they were shipped.
About BluWrap
Based in San Francisco, California with operations in Talcahuano, Chile, BluWrap provides naturally extended shelf-life technology that has revolutionized fresh protein supply chains worldwide. The company's technology uses its patented oxygen management techniques to create and maintain an all-natural controlled atmosphere environment that extends the shelf life of perishable proteins. BluWrap's breakthrough technology allows suppliers of fresh protein products to ship by ocean freight rather than more expensive airfreight, and still deliver a fresh, high quality product to customers. For more information, visit www.bluwrap.com.
About Wheatsheaf Investments and The Grosvenor Estate:
The Grosvenor Estate established Wheatsheaf Investments at the beginning of 2012 as a new enterprise created specifically to develop and invest in businesses that will contribute solutions towards meeting the growing global demand for food, water and energy in the face of a rapidly changing world population. In addition to Wheatsheaf Investments Ltd, the Wheatsheaf Group also incorporates a number of existing Grosvenor Estate agribusiness related companies including Cogent, the UK's largest bull stud and Grosvenor Farms an award winning farm in the North West of England. The Grosvenor Estate represents all of the assets and business interests, including rural estates owned by trusts on behalf of the Grosvenor family headed by the sixth Duke of Westminster. The three key elements are Grosvenor Group, an international property group which has owned or managed assets in more than 70 urban centers around the world (including Vancouver since 1953); Wheatsheaf Group, which comprises investments in sustainable food and energy initiatives together with a number of trading companies in the North West of England; and the Family Investment Office which includes 5 rural estates in the United Kingdom and Spain, a charitable foundation. The Grosvenor Estate employs more than 1,100 people, whilst relating to many more through its ownership and management of land and property.
SOURCE BluWrap
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