Deals

Aseptia seals $28M funding deal for fascinating food tech

Aseptia’s technology has been helping food stay fresh. And now it has some fresh funding to help it expand its reach.

The North Carolina-based company specializing in food packaging and processing technology just brought in a $28M Series C funding round. The funding will be used to support the growth of its Troy, N.C. operation for its subsidiary, Wright Foods.

Investors in this round include Lookout Capital, SJF Ventures, Prudential, and the F.B. Heron Foundation.

One of Aseptia’s most exciting contributions is its patented technology that enables the production of shelf-stable fresh food products without using preservatives or refrigeration. Aseptia’s novel process is also rather sustainable as it saves energy, packaging material, and distribution costs and results in a 12-month shelf life.

“We are grateful for the opportunity to invest in Aseptia and look forward to working with the company’s team,” said Merrette Moore, the founder and managing director of Lookout Capital in a statement, “We believe the company’s technology and process have revolutionary implications for the food industry.”

In June, an investor in Empire Foods, a company sharing principals and investors with Aseptia, sued the company, alleging that it had used his funds to acquire an Aseptia client. In November, Aseptia responded with claims it had done nothing wrong and a request for the court to dismiss all claims. The lawsuit is still pending.

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