Terviva, a food and agriculture company, has announced that it has raised $54 million in equity capital to commercialize its new-to-market culinary oil and plant protein.
Terviva expects to close an additional $24M in equity and debt capital this quarter, for a total of $78M in capital to drive its expansion.
This latest financing round was led by investors in sustainable food and agriculture, including Astera Institute (led by Jed McCaleb), Evans Properties, Trustbridge Partners, The Jeremy and Hannelore Grantham Environmental Trust, Ron Edwards (co-founder SoBe and Blue Buffalo Pet Food), Landis Becker Young and Brace Young (Chair of Social Finance), Mark Tercek (former CEO of The Nature Conservancy), Bryan Meehan (Executive Chair, Blue Bottle Coffee), Brent Magid (CEO of Magid, a global consulting firm) and Howard Fischer (Founder of Gratitude Railroad).
“We need environmentally friendly approaches to feed the world’s rising population,” said new Terviva board member Brace Young. “We can work with nature to reduce carbon emissions and produce more nutritious food, and Terviva is a prime example of such an opportunity.”
“Terviva’s pongamia-based food ingredients broaden access to healthy and environmentally sustainable foods that directly combat climate change,” said Naveen Sikka, founder and CEO of Terviva. “With our food ingredients, we can feed the planet and heal it at the same time.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.