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
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June 16, 2021 at 08:56PM
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Plant-Based Ingredients Maker Motif FoodWorks Raises $226 Million - MarketWatch
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