Investment will expand product line of next-generation food ingredients company.
HG Ventures has announced a $2.5 million seed round investment in Renewal Mill, a next-generation food ingredients company disrupting the food technology industry with sustainable solutions to production and manufacturing waste.
Renewal Mill will use this round of funding to scale current production and expand into new market opportunities. As part of the investment, Kip Frey, Managing Director of HG Ventures, will join Renewal Mill’s Board of Directors.
Renewal Mill upcycles the byproducts of food manufacturing into premium ingredients and products. In addition to providing manufacturers with a comprehensive solution to their production waste, Renewal Mill has pioneered technology that returns valuable nutrition to the supply chain and reclaims a wide variety of nutritionally valuable byproducts. These novel ingredients allow food companies to respond to changing consumer demands for healthier food, cleaner labels, and increased transparency.