What is Hazel Technologies?
Hazel Technologies is an innovative USDA-funded startup established in 2015, headquartered in Illinois. The company is dedicated to developing advanced solutions aimed at extending the quality shelf life of fresh produce and substantially reducing food waste across the supply chain. Their proprietary technologies are designed to maintain the freshness and integrity of fruits and vegetables from farm to consumer, addressing critical challenges in food spoilage and sustainability. The company's mission aligns with global efforts to create a more efficient and less wasteful food system.
How much funding has Hazel Technologies raised?
Hazel Technologies has raised a total of $90.9M across 7 funding rounds:
Multiple Rounds
$6.1M
Series B
$13M
Debt
$350K
Series C
$70M
Grant
$1.5M
Angel/Seed (2017): $800K with participation from Rhapsody, VentureWell, and valley oak investments
Series A (2017): $3.3M led by S2G Ventures
Private Equity (2017): $2M supported by S2G Ventures
Series B (2019): $13M featuring S2G Ventures, ImpactAssets, valley oak investments, Climate Impact Capital, Asahi Kasei Ventures, The Grantham Foundation, Pangaea Ventures, Rhapsody, and Serra Ventures
Debt (2020): $350K backed by PPP
Series C (2021): $70M with participation from S2G Ventures, Asahi Kasai Ventures, Temasek, Pangaea Ventures, Rhapsody, Jordan Park Group, Pontifax AgTech, and Jeremy and Hannelore Grantham Environmental Trust
Grant (2022): $1.5M led by U.S. Department of Agriculture
Key Investors in Hazel Technologies
S2G Ventures
S2G Ventures (Seed 2 Growth) is a multi-stage food and agriculture venture fund investing in entrepreneurs whose products and services meet the shifting demands for healthy and sustainable food. S2G looks for companies that can take leadership positions in emerging and fast growing markets in the food and agriculture sector. We make investments spanning the entire food supply chain from soil to shelf, finding the inflection points where innovation and capital can better align the food system to meet changing consumer demands.
Temasek
Founded in 1974, Temasek is a global investment company headquartered in Singapore. They are a generational investor, seeking to make a difference always with tomorrow in mind, focusing on long-term value creation across various sectors.
Pangaea Ventures
Pangaea Ventures is a leading venture capital firm specializing in hard tech, focusing on investments in start-up companies that utilize advancements in materials, chemistry, and biology to tackle significant global challenges. With over 25 years of experience, they aim to drive industrial transformation and promote sustainability through their portfolio, which includes leaders in clean energy and biotechnology.
What's next for Hazel Technologies?
With its latest major strategic investment, Hazel Technologies is poised for accelerated growth and market expansion. The substantial capital infusion is expected to fuel further research and development into novel preservation technologies, enhance manufacturing capabilities, and broaden the company's market reach. This funding will likely enable Hazel Technologies to scale its operations, forge new partnerships within the agricultural and retail sectors, and solidify its position as a leader in sustainable food preservation solutions. The company's continued focus on innovation and its commitment to reducing food waste position it for sustained success in the evolving food technology landscape.
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