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Thai Union Creates Venture Fund, Invests In Alternative Proteins

By Dayeeta Das
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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."

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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.

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