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.
Terviva, a food and agriculture company, announced that it has raised $54 million in equity capital to commercialise its highly-sustainable, 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 prominent 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 leading global consulting firm) and Howard Fischer (Founder of Gratitude Railroad).
Concurrent with this financing, Terviva is embarking on a new collaboration with Danone, a global leader in plant-based products, essential dairy, waters and specialized nutrition. Danone and Terviva are working to develop new food products that utilise pongamia oil and plant protein. The collaboration illustrates the shared vision of Danone and Terviva to improve the environmental outcomes of the food system by supporting regenerative farming practices that improve soil health, water quality and biodiversity, while also improving social and market outcomes.
Supporting this partnership is MISTA, a San Francisco based global innovation platform. MISTA’s purpose is to transform the global food system to meet the needs of the future by leveraging collaborations between the largest food, ingredient, and technology players with the most innovative, early-stage companies in the world.
