BOSTON–(BUSINESS WIRE)–Mori, a food technology company focused on reducing waste and creating more sustainable supply chains, today announced $16 million in Series B financing, led by the Drawdown Fund. Previous investors, Acre Venture Partners, The Engine, Prelude Ventures, Refactor Capital, Closed Loop Partners as well as new investor Knollwood Investment Advisory, joined the round.
Using just salt, water, and heat, Mori harnesses the unique attributes of natural silk to create an edible, undetectable, protective layer that can be applied to the surfaces of both fresh and shelf-stable foods. This adds flexibility in the supply chain, improves food access, and enables a reduction in both food and packaging waste.
“Mori is explicitly focused on addressing major problems in the food supply chain,” said Laura Witt, General Partner of the Drawdown Fund. “We’re confident that Mori will have a significant impact on reducing the 1.3 billion tons of annual global food waste while adding tremendous value to its customers.”