France-based Proteme, an AgTech company, announced on July 3 that it had raised €605K in its first round of funding.
Exerte Partners and renowned business angels associated with BeAngels and WeLikeStartup participated in the round.
Proteme says the funding will help it to advance its eco-friendly edible food coating solutions by finalising the development of its first two products and hiring experts. Additionally, it will also support the company’s move to its first premises in September 2023.
Proteme aims to transform the global food industry, promoting sustainability and reducing food waste by extending the shelf life of fresh produce.
“We are delighted to have successfully concluded our first fundraising, the confidence that our investors have placed in our vision and in our innovative technology,” says Paul Malfoy, President of Proteme.
Proteme plans to launch a second seed fundraising round by the end of 2023. The funds will primarily support scaling up production, regulatory procedures, and conducting experimental trials with industrial partners in the banana and lemon sectors.
Proteme’s food coating
Annually, around 10 million tons of products meant for human consumption are lost in France, with 50% coming from the fruits and vegetables sector, leading to a staggering 15 million tons of CO2 equivalent emissions.
Specialising in deep-tech solutions for the food industry, Proteme focuses on ecological food coating solutions for fruits and vegetables. With the growing global population and the need to address food waste’s environmental impact, the French start-up is dedicated to offering sustainable alternatives for post-harvest crop protection.
Proteme’s two distinct food coatings, one for bananas and the other for lemons, extend their shelf life and reduce storage diseases, effectively reducing food waste.
“Our mission at Proteme is to revolutionise the way we protect and preserve fresh produce,” says Malfoy. “With our eco-friendly food coating solutions, we aim to significantly reduce food loss, minimise environmental impact and contribute to the agroecological transition.”
Their coating, named Prosane, is an antimicrobial, natural, and biodegradable layer that acts as a barrier, slowing down product ripening. It is tasteless, odourless, and invisible, making it safe to consume.
The edible food coating serves as a sustainable alternative to plastic packaging. Prosane is designed for farmers, market gardeners, arborists, and agricultural cooperatives seeking sustainable alternatives to post-harvest phytosanitary products.
“We believe in Proteme’s vision and the potential impact their solutions can have across the entire food chain,” says a representative from Exerte Partners.
“Their innovative approach to food coating is in line with our commitment to sustainable technologies. We are excited to contribute to Proteme’s journey and help them make a meaningful difference in reducing food waste and eliminating chemicals in people’s daily diets,” they add.
Read the orginal article: https://siliconcanals.com/news/startups/proteme-605k-fundraise/
