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Cargill bridge round is 5.75 million Euros (USD 6 M, GBP 4.8M), sourcing key ingredients as a strategic partner to CUBIQ FOODS, a leader in alternative fats
— Andrés Montefeltro, CEO and co-founder, CUBIQ FOODS
MADRID, SPAIN, May 9, 2022 /EINPresswire.com/ — CUBIQ FOODS, the Spanish alternative-fat solutions innovator for food, has raised a total of 5.75 million Euros (USD 6 M, GBP 4.8M) from four investors: Cargill, Moira Capital Partners, SGEIC and Newtree Impact.
This round of investment allows CUBIQ FOODS to expand commercial and production operations in North America and Europe, as well as to launch new products into a growing customer base. Cargill’s investment is the first step in a strategic partnership that includes a product development plan and a commercial agreement to market and sell CUBIQ FOODS’ products.
CUBIQ FOODS was founded in late 2018 and is a pioneer in alternative-fats solutions for food applications with a growing customer base. By 2020, it raised 10 million Euros in a Series A led by Moira Capital Partners and Blue Horizon Ventures, grew its team to 50 people, developed 3 product lines and started the commercialization of an innovative fat replacer, with customers in Spain, the UK, Ireland and the U.S.
The founders, Dr Raquel Revilla (CTO) and Andrés Montefeltro, believe that there is a big opportunity to transform the food chain into a healthier, tastier, sustainable and affordable one for all. The incorporation of sustainable ingredients like CUBIQ FOODS’ alternative-fats solutions can become key in this transformation.
In mid-2021, CUBIQ FOODS successfully launched plant-based, sustainable Go!Drop®. Go!Drop® is a fat replacer that offers improved juiciness, full flavor profile, fewer calories, less saturated fats and only 20% oil. It reduces oil use and environmental impact compared to standard product solutions. Go!Drop® is a viable alternative to animal fats in processed meat products, dairy derivatives, sauces, bakery, confectionery and saturated vegetable fats (such as coconut oil) in vegan food products.
In late 2022, CUBIQ FOODS will launch Go!Mega3®, a new generation of microencapsulated omega-3 for ‘functional foods’ with high omega-3 content. Multilayer microencapsulation protects the highly concentrated essential oils, maintaining their properties without any of the fish flavors. This can help food manufacturers to deliver recommended daily intake of omega-3 into new, affordable products to support optimal health, particularly the cardiovascular and the central nervous system.
By early 2023, CUBIQ FOODS will launch its first cultivated fat-based ingredient for food applications in the U.S. market. The cultivated fat ingredient helps to more closely replicate the taste and texture of traditional meat in plant-based food alternatives.
“Consumer interest in plant-based protein continues to be a strong trend, expanding the innovation opportunity for food manufacturers looking to address this demand,” said Vivek Cherian, Meat and Dairy Alternatives Category Leader for Edible Oils at Cargill. “Our strategic partnership with CUBIQ FOODS will help us better serve our customers by accelerating the development of plant-based alternatives that offer the taste, texture and flavor, as well as the nutritional profile and sustainability story, that they and their consumers desire.”
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About CUBIQ FOODS – https://www.cubiqfoods.com
Dr. Raquel Revilla and Andrés Montefeltro started the Granollers (Barcelona, Spain)-based company in 2018. CUBIQ FOODS uses cell culture, microencapsulation of omega-3 oils and new oil/water emulsion formulas to respond to the growing demand for healthy ingredients in the food sector. The company has developed a technology platform to produce cultivated fats and omega-3-rich cell-based oils and has new patented methods for preparing structured oil/water emulsions to replace plant and animal fats in food production. It is the first company focused on these types of food applications on an industrial scale. CUBIQ FOODS aims to lead the quest to incorporate the “omega-3 daily dose” for a variety of functional food products. (Functional foods offer additional or enhanced benefits above their basic nutritional value.) The company is ready to replace animal fats in processed meat, and coconut oil in plant-based products globally. It is partnering with large food and ingredients producers to make this vision a reality.
About Cargill – www.cargill.com – News Center
Cargill’s 155,000 employees across 70 countries work relentlessly to achieve our purpose of nourishing the world in a safe, responsible and sustainable way. Every day, we connect farmers with markets, customers with ingredients, and people and animals with the food they need to thrive. We combine 156 years of experience with new technologies and insights to serve as a trusted partner for food, agriculture, financial and industrial customers in more than 125 countries. Side-by-side, we are building a stronger, sustainable future for agriculture.
About Moira Capital Partners – https://moiracapitalpartners.com
Moira Capital, based in Madrid, started its activity in early 2017 as a GP specialized in direct high-return investments for private investors and institutions. The private equity GP leads investments of between €5 and €50 million in equity per deal, under a differential approach with respect to traditional private equity, which allows it to access unique and exclusive investment opportunities, financing each operation deal by deal with a club of families and institutions. In just over five years, it has committed close to €200 million to boost the high-growth business plans of 13 innovative Spanish companies.
About Newtree Impact – www.newtreeimpact.com
Newtree Impact, based in Brussels, is an industrial holding company listed on Euronext (NEWT) that aims to provide access to impact investing for all while supporting disruptive companies in the food chain. It was born in 2021 on the roots of the Newtree brand, whose chocolate and coffee are now a 100% subsidiary. Newtree Impact invests between €300,000 and €2.5 million in companies specializing in alternatives to animal proteins (such as plant proteins and fermentation), decarbonization, and any other disruptive innovation in the food chain that can help meet the challenges of the climate crisis. In 2021, Newtree Impact invested in five companies ranging from alternative proteins (plant and cell-based in the United States and Switzerland) and the world’s largest industrial insect factory (Protix in the Netherlands) to technological disruption of aquaculture chains and systems (Aqua-Spark in the Netherlands) and bacteriophages, which improve gut microbiome, sustainable protein production and counter the rise of Antimicrobial Resistance (Proteon Pharmaceuticals in Poland).