Get the app today! Download iPhone App Download Android App

Thai Union Creates Venture Fund, Invests In Alternative Proteins

Published on Oct 18 2019 11:00 AM in A-Brands tagged: Trending Posts / Thai Union Group / World News / Alternative Proteins / Venture Fund / Flying Spark

Thai Union Creates Venture Fund, Invests In Alternative Proteins

Seafood giant Thai Union Group has announced an initial investment of US$30 million (€26.98 million) in a venture fund to support companies developing breakthrough technologies in food-tech.

The venture fund will focus on businesses functioning in alternative proteins, functional nutrition, and value chain technology.

Alternative protein start-up from Israel, Flying Spark, will be the venture fund's first investment, the John West parent said.

Flying Spark's cost-effective technology enables the cultivation of fruit fly larvae as an alternative protein source.

'Innovative Start-Ups'

Thai Union CEO, Thiraphong Chansiri, said, "As we move into the coming decade, we will increasingly cooperate with innovative start-ups in strategically interesting areas. This will complement our own activities as we are broadening our business beyond our traditional core."

Most recently, the seafood company teamed up with Thailand’s National Innovation Agency and Mahidol University to launch Space F, Thailand’s first food-tech incubator and accelerator programme.

© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.

Share on Facebook Share on Twitter Share on LinkedIn Share via Email