Acre-led funding to scale manufacturing of protecting silk answer and commercialize throughout meals classes
BOSTON–(BUSINESS WIRE)–July 17, 2020–
Mori, a meals tech firm lowering waste and making a extra sustainable provide chain, at present introduced it has raised $12 million in Series A funding, led by Acre Venture Partners. The spherical attracted new buyers, together with Prelude Ventures, The Jeremy and Hannelore Grantham Environmental Trust, and ACCELR8 in addition to returning buyers The Engine, Refactor Capital, Closed Loop Partners, Blindspot Ventures, and The Fink Family Foundation.
Mori’s expertise is extracted from silk by means of a water-based course of and has the distinctive potential to type a pure protecting, edible, and tasteless barrier on a variety of meals gadgets, together with complete produce, reduce produce, meat, fish, and processed items. Mori’s silk protein permits meals to remain more energizing for longer by stopping oxidation, bettering water retention, and slowing microbial progress.
Formerly often known as Cambridge Crops, the corporate rebranded to Mori to raised replicate the breadth of the expertise core to its mission. The naturally occurring protein forming the idea of the corporate’s protecting barrier comes from Bombyx mori silk, which has advanced to guard life in opposition to the weather. Mori has developed strategies to provide the identical safety to meals.
The United States alone wastes round 40% of the meals it produces. Globally, meals waste corresponds to an annual lack of 2.6 trillion USD. Mori seeks to recapture that misplaced worth and reduce the quantity of meals going to waste.
“We’ve been impressed by the progress of the Mori team, and the flexibility of the technology sets them up as a very attractive solution for both food and agriculture companies. Food waste is an extraordinary challenge, both economic and environmental. Mori provides natural, well understood and cost effective solutions across various stages of the supply chain to combat waste,” stated Lucas Mann, Managing Partner at Acre.
“We often ask ourselves about what we can enable by extending shelf life,” stated CEO Adam Behrens. “There are major implications across food waste, food access, freight efficiency, food quality, and even the packaging we use. All unlocked with a single, naturally occurring protein.”
When discussing the brand new firm identify, Behrens provides: “we wanted our rebrand to reflect our technology’s origin in a clear and honest way. Just like honey bees make honey and beeswax, Bombyx mori make silk.”
Mori has obtained Self-Designated GRAS (Generally Recognized as Safe) standing, set by the US Food and Drug Administration (FDA), for its silk proteins for use in a variety of meals functions. The GRAS Self-Designation course of acknowledges the acceptance of meals and beverage components and requires the approval of an Expert Panel. Mori’s Expert Panel, made up of main toxicologists, nutritionists, and allergists, unanimously concluded with out reservation that the silk protein is secure for everybody to devour. Further certifications from the FDA and USDA are anticipated within the coming months.
Mori’s protein and its functions profit from a robust mental property portfolio. The expertise is at present protected by 20 patents, 25 patent functions, and quite a few commerce secrets and techniques worldwide.
Mori intends on utilizing the funding to construct out its manufacturing capabilities and proceed to develop industrial partnerships in a number of meals classes.
Mori, previously often known as Cambridge Crops, is a expertise firm centered on improvements within the meals, agriculture, and packaging industries. Through an progressive and proprietary course of, Mori makes use of simply salt and water to extract protein from silk to create an all-natural and edible protecting layer that retains meals more energizing for longer. The patented expertise will be built-in at any time from farm to shelf, permitting meals producers, meals processors, and retailers to increase shelf lives, attain new markets, and cut back waste. Mori relies in Boston, Massachusetts. For extra info, please attain out to [email protected]