Algae cultivator Qualitas Health raises USD 10 million in funding round
By Nikita Chaurasia  Date: 2021-01-13

Algae cultivator Qualitas Health raises USD 10 million in funding round

In recent developments, privately held food and nutrition company Qualitas Health Inc. has reportedly secured USD 10 million in venture funds, as it looks to broaden the reach of its plant-based protein and omega-3 business. The company was appraised at USD 73 million during the closure of the first funding round.

The recently conducted funding round was led by renowned foodtech investor PeakBridge VC, along with other private investors including Minrav Holdings Ltd., Malta, and privately owned Mexican food service conglomerate, Arancia Group, cited sources with relevant information.

The funding round is aimed at accelerating customer acquisition as well as the commercialization of the firm’s unique plant-based protein. Moreover, Qualitas Health will utilize the funds to expand its existing clinical science channels and initiate product penetration in additional geographies.

CEO of Qualitas Health, Miguel Calatayud was reported saying that the recent investments will contribute to the company’s business expansion objective in 2021, while iwi parallelly progresses towards the industrial pilot stage of its product and conducts additional clinical studies. The company’s plant-based protein will be ready for commercialization and sale in 2022, he added.

For the record, Qualitas Health is a Texas-headquartered organization that focuses on developing pharmaceutical ingredients and high-value vegetarian food supplements. The company is best known for its algae brand, iwi, which is a direct-to-consumer manufacturer of high absorption polar lipid EPA omega 3.

Reportedly, iwi relies only on saltwater and solar energy to cleanly cultivate large amounts of Nannochrolopsis, a type of microalgae that consists of most of the essential amino acids, primarily omega 3.

With a goal of bringing sustainable and nutritious food solutions to cater to the growing population, Qualitas Health cultivates their algae in large cultivation pond systems in the deserts of Texas and New Mexico, as cited by credible sources.

Source credits -

https://www.prnewswire.com/news-releases/qualitas-healthiwi-raises-10m-in-first-close-of-new-investment-round-301205104.html

About Author

Nikita Chaurasia    

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More

More News By Nikita Chaurasia

ClaimBuddy secures undisclosed sum in Titan Capital-led funding round
ClaimBuddy secures undisclosed sum in Titan Capital-led funding round
By Nikita Chaurasia

Indian insurance technology startup ClaimBuddy has reportedly raised an undisclosed amount in a seed funding round which was led by Titan Capital and involved participation from other marquee investor groups including First Cheque as well as LV Angel...

Mercedes-Benz unveils the EQA SUV in a bid to outdo Tesla, Volkswagen
Mercedes-Benz unveils the EQA SUV in a bid to outdo Tesla, Volkswagen
By Nikita Chaurasia

Daimler AG owned German automotive giant, Mercedes-Benz, has reportedly introduced the EQA, a new electric compact SUV to compete with market leader Tesla, Inc. as well as to meet its carbon targets in China and Europe. The Mercedes-Benz EQA, one of...

New York planning on direct purchase of Pfizer’s COVID-19 vaccines
New York planning on direct purchase of Pfizer’s COVID-19 vaccines
By Nikita Chaurasia

In recent developments, Governor of New York, Andrew Cuomo has reportedly issued a letter to the CEO of American drug maker Pfizer Inc., Albert Bourla, requesting for direct purchase of COVID-19 vaccine doses. Although the company is not bound to any...

Mayo Clinic Laboratories forms alliance with American Hospital Dubai
Mayo Clinic Laboratories forms alliance with American Hospital Dubai
By Nikita Chaurasia

In recent developments, Minnesota-based Mayo Clinic Laboratories and American Hospital Dubai are reportedly planning on entering a strategic alliance which is aimed at enhancing advanced laboratory diagnostic services in Dubai. Under the terms of th...

LTI, IBM extend global partnership to spearhead digital transformation
LTI, IBM extend global partnership to spearhead digital transformation
By Nikita Chaurasia

The New York-headquartered IBM Corp., with its global partner Larsen Toubro Infotech, an Indian global IT solutions & services company, are planning to extend their multi-year partnership, in a bid to enable companies to revolutionize the busines...