“Can a little sachet the size of a sugar packet make a dent in the world’s crushing food waste problem? Aidan Mouat, CEO of Chicago-based Hazel Technologies— which makes products that can as much as triple the shelf life of fruits and vegetables—is betting his company’s future, and that of the planet, on such technology.
Today, April 13, Hazel is announcing it has closed on a $70 million Series C round, bringing its total funding to more than $87 million since its founding in 2015. The new funding round will enable the ag tech startup to expand its reach to serve customers around the worlds, Mouat said. Currently, Hazel, which has received grants from the U.S.
Department of Agriculture, has about 160 customers in 12 countries, including Mission Produce, the world’s largest Haas avocado producer, and Zespri, the largest distributor of kiwi fruit.
The Series C round was co-led by Pontifax Global Food and Agriculture Technology Fund (Pontifax AgTech), and Singapore-based Temasek, a global investment company. The round also attracted new and returning investors S2G Ventures, Pangaea Ventures, Rhapsody Venture Partners, Asahi Kasai Ventures, Jordan Park Group, and the Jeremy and Hannelore Environmental Trust, the company said.n
View the published article on Forbes.com.