- Motif FoodWorks just raised $226 million, including from Blackrock-managed funds.
- The company plans to use the money to scale up production of ingredients for plant-based foods.
- Its products make the taste and texture of plant-based foods more like animal-based ones.
There’s big money in tiny but vital food ingredients for alternative proteins.
Boston-based Motif FoodWorks raised $226 million in a Series B funding round led by investment manager Blackrock-managed funds and the Ontario Teachers’ Pension Plan Board, the company said Wednesday.
Other investors in the round include CPT Capital, General Atlantic, Viking Global Investors, Louis Dreyfus Company, Rethink Food, AiiM Partners, Wittington Ventures, Rage Capital, Rellevant Partners, and Breakthrough Energy Ventures. The round brings the total that Motif has raised to $345 million, according to the company.