Ingredion invests in chickpea ingredient developer

Ingredion invests in chickpea ingredient developer

WESTCHESTER, Unwell. – Ingredion Inc. has taken an equity stake in chickpea component developer InnovoPro, Tel Aviv, Israel. Phrases of the financial investment were not disclosed.

Launched in 2015, InnovoPro created a proprietary extraction procedure to focus protein from the chickpea. The company delivers a 70{460fb034a27e548ed5501d55c9fd9d89f1a53c3345e8f9d2a556ed1430e65ba9} protein concentrate from chickpeas that has a neutral flavor, significant performance and large nutritional benefit, according to the firm. Programs consist of dairy-no cost yogurt, ice cream, veggie burgers and electricity bars.

“We believe this financial investment will unlock substantial purchaser attractiveness for chickpea protein concentrates,” mentioned Michael Natale, international chief of Ingredion’s plant-based protein system.   “InnovoPro has a robust portfolio of chickpea solutions, and we are energized about the prospective for the new applications that this will empower for our prospects by capitalizing on the trends shaping the food business.”

In October 2020 InnovoPro lifted $18 million in a funding round led by Jerusalem Enterprise Partners. Additional buyers included Icos Money, iAngels and the Rabo Food stuff & Agri Innovation Fund, part of Rabobank’s expenditure arm. The investment decision was utilised to scale InnovoPro’s infrastructure and for business enterprise development things to do.

“We are seeking ahead to this great partnership with Ingredion,” said Taly Nechushtan, main govt officer of InnovoPro. “In the decades forward, we intend to appreciably raise our development trajectory as we are transforming to a platform of chickpea ingredients. Dependent on our unique chickpea protein, we now offer a assortment of solutions that make it possible for us to grow from dairy choices to additional marketplaces, these kinds of as meat analogs, egg replacers, and far more, to inspire consumers with healthier and tastier solutions.”