It’s common to have a love-hate relationship with our favorite unhealthy snacks. After all, treats like ice cream, packaged baked goods, and sugary instant beverages are high in calories and wreak havoc on our overall health.
Hoow Foods plans to change this. Launched in 2018, the company uses what it calls food reformulation technology to create healthier versions of certain food products while retaining their taste and texture.
Today, the Singapore-based foodtech startup announced that it has raised an undisclosed amount of strategic funding in a round led by local family office Nanyang Realty.
South Korean venture capital funds Sunbo Angel Partners and Lighthouse Combined Investment also participated in the round.
ance their taste and texture, and alters their nutritional profiles to create a healthier product.
The startup’s 10-member team plans to use the new funds to expand its science team, enhance its technology infrastructure, and accelerate its operations and research and development capabilities in the region, according to a statement.
The company said it has also completed the commercialization of its products through its collaboration with Singapore heritage brand Killiney Group. With the partnership, the two firms co-developed several new merchandises this year, including milk tea and reformulated white coffee products, and are working on new flavors and healthier versions of instant beverages.
The move is in line with the government’s plan to ban certain less healthy ingredients, as well as the upcoming grading system for pre-packaged drinks, according to the company.
In September last year, the startup raised US$1.2 million in seed funding from Killiney Group, Singapore government-backed food incubator Innovate360, Trive Ventures, and other angel investors.
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