ImpactAlpha, April 30 – The San Francisco company’s flagship product is a foamy egg-white alternative used for baking made with genetically modified yeast that produces proteins without animal inputs.
“When we looked at the egg white, we saw a multibillion-dollar ingredient that was 90% water and 10% protein so it was a great place to build a protein-focused platform,” Clara’s Arturo Elizondo told AgFunderNews.
The company’s Series B financing was led by Ingredion, a food industry ingredients supplier, and included B37 Ventures, Hemisphere Ventures, and accelerator VC SOSV.
In February, another alt-protein ingredient company, Motif, raised $90 million from Breakthrough Energy Ventures to engineer dozens of proteins derived from dairy, egg and meat. “In food, of top 100 consumer-packaged goods brands, 90 have lost market share over the last decade,” Fifty Years’ Seth Bannon tweeted. “Amazing time to innovate in the food space.”