Heritas Capital continues to backs Alchemy Foodtech in bridge round
Alchemy Foodtech, a Singapore-based food technology startup specializing in food innovations to fight diabetes and other chronic diseases, announced the close of its 7-figure bridge round with strategic investors. The current round saw backing from several notable investors – Thai Union Group PCL (Thai Union), Bits x Bites, VC arm of Muang Thai Group Fuchsia Venture Capital, and Sunbo Partners.
Having led Alchemy Foodtech’s pre-series A round in 2018. Heritas Capital together with co-investor SEEDS Capital also continued our backing in this round. The bridge round will fuel Alchemy Foodtech’s next stage of development in expanding their production capacity and expanding their markets locally and overseas, with China as the focus.
“Alchemy Foodtech has shown strong traction and growth since our pre-Series A round investment in 2018, having secured several local partnerships with eateries including Boon Tong Kee and Yum Cha, as well as pharmacies such as Raffles Health and Grace Healthcare. Its innovation track record and brand-building experience gained through the local expansion past two years will support its upscaling and internationalization across Asian markets where there remains huge unmet needs for healthier diets. We are pleased to continue backing the team in its next stage of development,” said Janet Chia, Director and Head of Venture Capital at Heritas Capital.
More information can be found at Green Queen