Millennium Food-tech R&D partnership makes 8th investment The partnership will lead a financing round of up to $3 million in Nokku Millennium Food-tech will invest $1 million in the start-up's financing round Nokku is an Israeli start-up offering food and cosmetics manufacturers a data-based platform for management, marketing and distribution of product samples. The company's customers include Strauss, Tnuva, Azrieli.com and Loreal Israel
Millennium FoodTech helps its portfolio companies penetrate the U.S. market: The company is planning to establish an entrepreneurship center in the U.S. In view of the continued growth in foodtech investments, and the American leadership in adoption of foodtech solutions, the Israeli R&D partnership collaborates with a U.S. real estate company to establish an entrepreneurship center in Philadelphia. The U.S. real estate company will fund and build offices for the partnership's portfolio companies and help them enter the U.S. market
Israeli company TripleW gained a significant award of some €2.2 million from the European Union. TripleW, a portfolio company of public R&D partnership Millennium FoodTech, makes lactic acid from food waste, for use in a variety of products. The European Union will support the consortium Waste2Func under the program Horizon 2020. The consortium develops daily consumables such as detergents and packaging made from food waste and agricultural waste, using biotechnological processes. The partners in the project will be given an award estimated at some €6.7 million. Israeli biotech company TripleW, one of the consortium leaders, was awarded an amount estimated at some €2.2 million
Strategic collaboration agreement signed between Strauss food giant and Millennium FoodTech for joint investment in FoodTech companies The strategic agreement signed between Millennium FoodTech and Strauss Group's The Kitchen incubator sets forth principles for collaboration between the parties for investment by the partners in the incubator's portfolio companies. The Kitchen is now Israel's leading FoodTech incubator; The companies built by the incubator include, among others, Aleph Farms, Better A, Flying Spark, Amai Proteins and Yofix. The financial statements released by Strass Group last month indicate that its investments in the incubator companies contributed some ILS 30 million to the quarterly profit.