ReGrained Closes $2.5M Strategic Financing Round Led by Griffith Foods
Sep 25, 2018, 08:38 ET
SAN FRANCISCO, Sept. 25, 2018 /PRNewswire/ -- ReGrained, a mission-driven ingredient platform and packaged goods innovator that leverages patented technology to transform food manufacturing byproduct into tasty superfoods, announced today that it closed out its $2.5 million Series Seed financing. Griffith Foods, the privately held global product development company led the round with additional participation from Barilla Group's BLU1877, Telluric Foods and many other strategic and crowdsourced investors.
The investment will help the company scale their proprietary processing technology and commercialize their ingredient business. Setting the stage for global expansion, the world's first "ReGrainery" based in the San Francisco Bay Area rescues and upcycles millions of tons of high-protein, high-fiber grain generated by the brewing industry into ReGrained's SuperGrain+TM. SuperGrain+TM is versatile ingredient that performs flawlessly in all commercial applications from savory to sweet, producing delicious, nutritious, and highly functional foods.
Griffith Foods is a family-owned global developer and manufacturer of customized food ingredients whose Purpose is "We Blend Care and Creativity to Nourish the World." The company provides a range of offerings from seasonings and sauces, to breadings and food safety solutions. It serves foodservice customers, processors, retailers, and distributors. Founded in Chicago in 1919 and currently headquartered in Alsip, Illinois, Griffith Foods is a global force with a presence in over 30 countries and six continents.
The financing builds on an exceptional year for ReGrained, which saw the launch of their first consumer product line, SuperGrain+TM bars, the introduction of first-to-market compostable packaging, global recognition as food waste thought-leaders, partnerships with multinational food companies and entry in 1000's of new retail locations.
"The strategic partnership between Griffith Foods and Regrained offers an opportunity to work together and find new ways to nourish the world," said Brian Griffith, executive chairman of Griffith Foods. "The world's population is estimated to reach almost ten billion by 2050. It is imperative for food companies to create innovative solutions that safely and sustainably feed our growing communities."
"Our Purpose is to better align the food we eat with the planet we love. Our Edible Upcycling model changes the way we value food and the resources that support all life. We could not ask for a more mission-aligned partner that directly supports our strategic goals than Griffith Foods," says Daniel Kurzrock, ReGrained's Chief Executive Officer.
"Griffith shares our authentic commitment to making the world a better place through food. Our strategic partnership will dramatically accelerate our ability to mitigate food waste and promote edible upcycling. We look forward to many years of "Creating Better Together."
ABOUT REGRAINED:
ReGrained is a mission-driven ingredient platform leveraging patent-pending technology to transform food waste and byproducts into tasty superfoods. SuperGrain+TM - their hero ingredient - is a versatile, economical, and environmentally impactful grain blend that performs flawlessly in all commercial applications, enabling food manufacturers to produce more delicious, nutritious, and marketable foods.
ABOUT GRIFFITH FOODS:
Griffith Foods is a family-owned global developer and manufacturer of customized food ingredients whose Purpose is "We Blend Care and Creativity to Nourish the World." The company's capabilities range from seasonings and breadings, to marinades and sauces blended to exacting specification that are culturally authentic, taste great and improve food safety. Founded in Chicago in 1919 and currently headquartered in Alsip, Illinois, Griffith has grown and expanded globally to include a presence in over 30 countries and six continents.
CONTACT:
Cassidy Lundy, ReGrained
Phone: +1 833 734 7246
Email: [email protected]
SOURCE ReGrained