Plant-Based Ingredients Maker Motif FoodWorks Raises $226 Million
June 16 2021 - 10:15AM
Dow Jones News
By Colin Kellaher
Motif FoodWorks, a maker of plant-based ingredients and
flavorings, on Wednesday said it raised $226 million at an
undisclosed valuation in a series B funding round led by Ontario
Teachers' Pension Plan Board and funds and accounts managed by
BlackRock Inc.
The Boston startup, which was spun out of biotechnology
solutions company Ginkgo Bioworks in 2019, said it has now raised a
total of $345 million.
Motif said it will use the funding to increase its
research-and-development capabilities, scale and commercialize its
food technologies, and expand its workforce and facilities
footprint.
AiiM Partners, Wittington Ventures, Rethink Food, Rage Capital
and Rellevant Partners also participated in the round, along with
prior investors Breakthrough Energy Ventures, CPT Capital, General
Atlantic, Louis Dreyfus Co. and Viking Global Investors.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
June 16, 2021 10:11 ET (14:11 GMT)
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