Terviva – a California-based firm commercializing ingredients from low-input, high-yielding Pongamia trees – has raised $54m in equity capital, with an additional $24m in equity and debt capital to follow this quarter, and announced a collaboration with Danone.
Terviva – a California-based firm commercializing ingredients from low-input, high-yielding Pongamia trees – has raised $54m in equity capital, with an additional $24m in equity and debt capital to follow this quarter, and announced a collaboration with Danone.
Terviva – which aims to have commercial quantities of golden buttery oil available by mid-2022, with ‘highly soluble’ protein isolates to follow in 2023 – will work with Danone and San Francisco based innovation platform MISTA to develop new food products that use oil and protein from Pongamia trees that produce significantly more biomass per acre than soybeans with a fraction of the water, fertilizer, and pesticides, claimed Terviva founder and CEO Naveen Sikka.
TerViva – a California-based firm seeking to commercialize ingredients from low-input, high-yielding Pongamia trees – aims to have commercial quantities of 'golden buttery' oil available by mid-2022, with ‘highly soluble’ protein isolates to follow in 2023.
TerViva – a California-based firm seeking to commercialize ingredients from low-input, high-yielding Pongamia trees – aims to have commercial quantities of golden buttery oil available by mid-2022, with ‘highly soluble’ protein isolates to follow in 2023.
Founded in 2010 by Naveen Sikka, Maggie Kavalaris, Anne Slaughter, and Joe Andrew,
TerViva is on a mission to shift Pongamia from a niche source of ingredients used in Ayurvedic medicine to a major food crop competing with the likes of soy and palm. It has raised more than $30m to date and is currently raising additional funds as it gears up for launch, SVP products & processing Dr Jim Astwood told FoodNavigator-USA.