Bits x Bites has raised $30M in the first close of its new $70m fund. The fund, managed by general partners Matilda Ho and Joseph Zhou, will invest exclusively in the agrifood tech sector with a focus on the Chinese market. By backing early-stage Chinese and international founders, it aims to advance bioscience, data science, and processing technology to tackle challenges along the Chinese food supply chain, from precision agriculture, crop and animal health to protein alternatives and nutrition.

Heritas Capital and Bits x Bites jointly invested in Alchemy Foodtech in 2018 and have since collaborated to support Alchemy’s growth as value adding investors.

“We see tremendous innovations and opportunities in China’s agrifood tech sector as consumers there become more mindful of diet and well being, and we are pleased to support and partner with Bits x Bites as part of our strategy to build a global portfolio of foodtech investments”, said Janet Chia, Director at Heritas Capital.

More information can be found at Bits x Bites’ website and The Business Times