PLT Health Solutions and existing backer Tate & Lyle Ventures contributed to a $12.7m round for vegan ingredients supplier Nutriati to take its total funding to more than $22m.
US-based meat-free ingredients supplier Nutriati has completed a $12.7m series C round featuring Tate & Lyle’s corporate venturing arm, Tate & Lyle Ventures, and ingredients producer PLT Health Solutions.
The round was led by private equity firm Manna Tree Partners and included Open Prairie, PowerPlant Ventures, NRV Early Stage Growth Fund and Blueberry Ventures.
Founded in 2015, Nutriati produces processed ingredients for food suppliers, substituting pulses like chickpeas or lentils for meat, eggs or gluten to better serve consumers with dietary or ethical concerns.
The company’s product offering is anchored by a gluten-free flour product and protein concentrate, both of which are made from chickpeas.
Tate & Lyle Ventures led an $8m round for Nutriati in 2017 that also featured Blueberry Ventures and NRV. The latter investor had already put up $1.5m in funding for the company two years earlier, according to the Richmond Times-Dispatch.