Sunday, August 9, 2020

Thai biotech startup secures funding from 500 Startups

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Felicia Calle
Felicia Calle
Australia | Felicia's fascination with tech began in the 90s, and she loves to update readers on the best tech deals on the internet. When she’s not writing, you’ll find her travelling around the world.

JuiceInnov8, a Bangkok-based startup in the food biotechnology industry, has closed a US$500,000 pre-series A funding led by 500 Startups’ Durians II fund and TukTuks fund.

JuiceInnov8 is a deep tech startup working on developing sugar reduction technology with non-genetically modified microbes and proprietary sugar conversion processes. It aims to reinvent the global beverage industry by offering healthier, natural juice that has less sugar and fewer calories.

The team plans to leverage the investment to expand the company’s core scientist and engineering team and help accelerate the development of its platform from pilot to commercial scale.

With this technology, juices sold in the market can have its original juice content and essential nutrients but with near zero sugar and calorie content. This strategy is also in line with the shift in consumers’ preferences which are increasingly conscious about having better and healthier food & drinks options. JuiceInnov8 is now working closely with industry partners from leading beverage brands & OEMs to launch a new category of reduced sugar juice into the market.

JuiceInnov8 was founded four years ago and has been recognized for its technology and mission by multiple of accelerator programs globally, from a food startup incubator in Spain, DigEatAll, to TERRA, a food & Ag Tech accelerator in Silicon Valley founded by Rabobank and RocketSpace. JuiceInnov8 is also the first Thai startup that was awarded Global Top 500 Deeptech Startups in Hello Tomorrow Summit 2017 in Paris.

The company previously raised a Seed round of US$500,000 in April 2017 led by a group of IOIC (Intania Open Innovation Club) — a venture fund investing in Chula Engineering alum-led companies and a former top-level executive of global beverage brand.

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