Startups developing new plant-based proteins raised $78.2 million in 2016, according to AgFunder News.
The latest: vegetarian “foodtech” startup Nutriati, based in Virginia, which closed an $8 million Series A funding round.
The backing came from the food venture fund of London sugar company Tate & Lyle, as well as PowerPlant Ventures, Blueberry Ventures, and NRV.
The funding will boost production of Nutriati’s vegetarian proteins, made from chickpeas, which are set to launch in the next year.
Vegetarian proteins represent a growing segment of the food market amid growing global food needs and health awareness.