BluWrap Secures $12.6 M in Funding
New Round of Funding led by Wheatsheaf Investments, Opens Door for Global Expansion
SAN FRANCISCO – November 5, 2014 – BluWrap, the technology company that naturally extends the shelf life of fresh proteins announced today it has secured $12.6M in equity financing, led by Wheatsheaf Investments Ltd., part of the Grosvenor Estate. BluWrap will use the funds to accelerate adoption of its technology, secure new global sources of protein supply, expand into new global geographic markets, further develop its capabilities in other species of seafood and pork, and develop the next generation of its technology. Existing investors, Anterra Capital, Firelake Capital and Rabo Ventures, also participated in the round.
“We’re extremely excited that Wheatsheaf Investments has seen the potential in BluWrap’s technology to challenge the status quo in the fresh protein logistics supply chain and reduce the harmful impact on our environment to feed more of the world’s population,” said Mark Barnekow, Chief Executive Officer of BluWrap. “Wheatsheaf Investments’ goal of investing in and developing businesses that will contribute solutions towards meeting the growing global demand for food, water and energy in the face of a rapidly changing world population, is perfectly in line with BluWrap’s vision of revolutionizing the way fresh proteins are transported around the world.”
“We have been very impressed with the progress that BluWrap has made with its technology and market acceptance,” said Anthony James, Chief Investment Officer at Wheatsheaf Investments. “This investment into BluWrap, will provide the company with the financial resources it needs to become a world-class alternative for shipping fresh proteins around the globe using the most environmentally sustainable methods.”
Compared to the costly alternative of air freight, BluWrap’s technology allows for the reduction of CO2 emissions by over 99 percent without using ice or environmentally harmful polystyrene packaging. BluWrap’s technology maintains an all-natural, controlled atmosphere environment so fish and other perishable proteins arrive by sea freight in the destination market with the same fresh quality as the day they were shipped.