US-based confectionery giant Mondelez International has taken a minority investment in Uplift Food, a local early-stage start-up focusing on prebiotic functional foods.
This is the first investment the Cadbury and Oreo maker has made as part of SnackFutures, its venture hub aimed at “unlocking snacking growth opportunities”.
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The level of Mondelez’ investment in Uplift, which specialises in gut-healthy products and ingredients, has not been disclosed.
Tim Cofer, executive vice president and chief growth officer of Mondelez International, said: “Together with Uplift Food, we have a unique opportunity to disrupt the functional food category by delivering ‘snackable’ products focusing on gut health – something that does not exist today.”
Kara Landau, founder of Uplift Food, said: “Partnering with SnackFutures will undeniably strengthen Uplift Food’s capacity to live our mission of seeing everyone benefit from the consumption of gut-healthy foods.
“The SnackFutures team provides the industry experience needed to make our dream a reality, and the continued support they show us to hold onto our nutritional and ingredient integrity allows us to remain true to our core values and grow.”
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By GlobalDataMondelez said the SnackFutures team will work with Uplift Food to make gut health more understandable, accessible, and enjoyable through new forms and flavours.
Beyond the financial investment, it will provide strategic support in areas such as marketing, distribution, R&D and sourcing.
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