Mexican baking giant Grupo Bimbo has taken part in an investment round for US protein business Clara Foods through an affiliate.

Bimbo, reputed to be the world’s largest bakery business, took part in the Series B funding round via its strategic investment partner B37.

Financial details of the investment round have not been disclosed.

San Francisco-based Clara Foods engineers, manufactures and formulates animal-free, animal proteins as ingredients for the global food and beverage industry, including chicken-less egg proteins.

Clara Foods’ main product is a foamy egg white alternative for baking use.
     
It said his round of financing will fast-track commercialisation of that product, more generally expand research and development capabilities and broaden its “product road-map” into other animal proteins.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Arturo Elizondo, founder and CEO of Clara Foods, said: “We see extraordinary value in partnering with Ingredion [which led the funding round] to distribute our products globally and look forward to jointly transforming the status quo.”

Clara Foods raised US$15m in a Series A funding round in 2016.

Other investors joining Grupo Bimbo/B37 and Ingredion in this round include Hemisphere Ventures and SOSV.

Clara has also announced a global partnership agreement with Ingredion. Under the agreement, the companies will work together to jointly develop, market and globally distribute functional protein ingredient products.