Congratulations to our portfolio company, Kern Tec, who raised €12 million ($12.8 million) in a Series A funding round to scale technology that turns food waste into food ingredients.
The funds will help Kern Tec in scaling the production and commercialization of its sustainable ingredients for plant-based dairy and confectionery products. These ingredients are derived from upcycled stone fruit pits such as apricots, plums and cherries – of which 500,000 metric tons are land-filled each year in Europe alone.
Three weeks after announcing their capital raise, Kern Tec launched a range of vegan cheese made from rescued fruit pits. The cheese, in its three different variants (mountain fun, pesto and tomato olive), will be sold under the brand name “Wunderkern Kesä” and is now available in 500 Billa Plus stores throughout Austria.