Nutriati closes Series C funding round led by Manna Tree Partners

US plant-based ingredients manufacturer Nutriati has closed a Series C funding round led by asset management firm Manna Tree Partners.

The company’s existing investor, Open Prairie, participated in the $12.7m funding round through its Open Prairie Rural Opportunities Fund.

Open Prairie Rural Opportunities is a growth-stage private equity fund dedicated to offering capital to agribusiness companies throughout rural America. It is also a US Department of Agriculture licensed rural business investment company.

Open Prairie partner and Nutriati board member Tom Doxsie said: “Nutriati is at the forefront of the plant-based trends being adopted by many of today’s consumers. Through proprietary processing and innovative product development, the company is providing superior solutions to food and beverage companies for plant-based protein and non-dairy applications.”

Sutter Post Advisors offered financial advice to the company throughout the funding round.

The company also sells its flour and protein under the Artesa brand. It manufactures ingredients using pulses, which fall under superfoods category and include beans, peas, lentils and chickpeas.

Manna Tree Partners COO Brent Drever said: “Nutriati uses science and technology to produce healthier ingredients, with an emphasis on taste, texture and nutrition. We are proud to partner with Michael Todd and his team, which is committed to the research, development and commercialization of innovative and sustainable ingredients. As demand rises for healthier eating, Nutriati is well-positioned to grow for years to come.”