This food tech startup wants to keep the world’s bananas and avocados fresher longer By Robert Channick, Chicago Tribune
Published: April 18, 2021, 10:30am
Share: Post harvest scientist Fang Tham measures the force needed to puncture a chayote with a penetrometer at Hazel Technologies in Chicago on November 15, 2019. This measurement helps determine the quality of the fruit. (Camille Fine/Chicago Tribune/TNS)
Hazel Technologies, a Chicago-based startup that created a small drop-in packet to keep bananas and other produce from turning prematurely brown, is starting to produce a lot of green.
The 6-year-old company announced Tuesday it raised $70 million in a completed investment round, financing ambitions to grow Hazel into an international food tech powerhouse.
Hazel Technologies, Inc., a Chicago, IL-based USDA-funded agricultural technology company delivering new solutions to combat food waste, raised $70m in Series C financing.
The round, which brought cumulative total raised to over $87m, was co-led by Pontifax Global Food and Agriculture Technology Fund (Pontifax AgTech), and Temasek, a global investment company headquartered in Singapore, with participation from S2G Ventures, Pangaea Ventures, Rhapsody Venture Partners, Asahi Kasai Ventures, Jordan Park Group, and the Jeremy and Hannelore Grantham Environmental Trust.
The company intends to use the funds to build global operations in major agricultural production areas, expanding into new markets such as Southeast Asia, Africa, the EU, and beyond.
This food tech startup wants to keep the world s bananas and avocados fresher longer msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Ag-tech startup Hazel Technologies gets $70 million chicagobusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chicagobusiness.com Daily Mail and Mail on Sunday newspapers.