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Singapore startup raises US$1.7mn in Series A funding, which will support the launch of post-harvest shelf-life extension innovation
N&E Innovations, which has created a way to turn discarded food waste into an edible antimicrobial that can help fresh produce last longer, has raised US$1.7mn in Series A funding.
The Singapore-based ag-tech start-up developed a patented technology called ViKANG99 that takes agricultural waste, including discarded cashew nut husks, and extracts naturally occurring compounds that fight bacteria and mould. Those compounds are then turned into an edible, food-grade ingredient that can be applied directly to fresh produce or built into products such as food packaging and cling wrap, as well as hand sanitiser and cleaning products.
N&E already counts high-profile <a href="https://bitcomme.com/personal-ai-agents-now-contact-customer-service-teams/” title=”Personal AI agents now contact customer service teams”>customers including Singapore Airlines and leading Singapore supermarket chain Sheng Siong. The funding comes as the company accelerates its international expansion across the UK, Germany, Vietnam, Taiwan and Australia, where its products are already being used by restaurants and foodservice operators and its consumer range is preparing to launch through IGA supermarkets
One of its first applications is The Orange Wrap, an antibacterial cling wrap. Unlike conventional cling wrap, which creates a physical barrier around food, The Orange Wrap incorporates ViKANG99 into the material itself, which N&E said allows the film to actively inhibit bacterial growth and help food stay fresher for longer.
N&E Innovations co-founder and managing director Didi Gan (left)
Co-founder and managing director Didi Gan said the Series A would allow N&E to accelerate commercialisation of the technology internationally.
“Food waste is usually seen as something we need to get rid of. We see it as a resource,” Gan said.
“We can take something like a discarded cashew nut husk, extract the compounds that naturally fight microbes and turn them into an ingredient that can help protect food.”
“The exciting part is that ViKANG99 isn’t limited to one product. It can be incorporated into packaging, used on fresh produce or formulated into cleaning products, which gives the technology enormous potential.”
N&E’s Series A was led by Australian agrifood investment firm Tundra Capital, with SGInnovate, Singapore’s government-owned deep-tech investor, also backing the round along with The Radical Fund, Archipelago VC and SG7 Group.
Existing investors Cercano, Seeds Capital, Elev8 Capital and Qian Hu Corporation also continued their support.
The funding will be used to accelerate ViKANG99 across its three core markets of active antimicrobial food packaging, plant-based cleaning and post-harvest agriculture, while supporting international expansion, regulatory programs and growth of the company’s team.
Tundra Capital managing partner Timothy Hui said Tundra’s investment reflects the fund’s focus on technologies capable of solving major challenges across the global food system.
“N&E Innovations is one of those start-ups that ticks every box – their technology transforms agricultural waste into a valuable ingredient, their antimicrobial active ingredient is applicable at various points across the food value chain, and they have demonstrated customers globally love their product,” Hui said.
N&E is also launching into agricultural markets later this year, applying ViKANG99 directly to fresh produce through its Post-Harvest Wash and Post-Harvest Guard systems.
The technology can be applied after fruit and vegetables are harvested to suppress mould and microbial growth, helping produce last longer through storage, transport and retail and providing a natural alternative to conventional post-harvest treatments such as chlorine and wax.
