ReGrained Closes USD2.5m Strategic Financing Round to Expand Ingredients Business
ReGrained, a mission-driven ingredient platform, and packaged goods innovator that leverages patented technology to transform food manufacturing byproduct into tasty superfoods, has announced that it closed out its USD2.5m 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 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. SuperGrain is a versatile ingredient that can be used in all commercial applications from savory to sweet, producing 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, USA, 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 bars, the introduction of first-to-market compostable packaging, global recognition as food waste thought-leaders, partnerships with multinational food companies and entry in thousands 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. The world’s population is estimated to reach almost 10 billion by 2050. It is imperative for food companies to create innovative solutions that safely and sustainably feed our growing communities,” said Brian Griffith, executive chairman of Griffith Foods.
“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. 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,” says Daniel Kurzrock, ReGrained’s CEO.