Cargill-Backed Puris Proteins Lands $12.5M Investment
Puris Proteins, cultivator of non-GMO-sourced plant-based foods and ingredients, has cultivated $12.5 million from a Series D fundraising campaign. The targeted amount was achieved with just one investor and the sale was made June 14, according to a recent SEC filing.
This latest investment comes less than six months after the Minneapolis-based Puris landed two other key deals: a $25 million investment and the inking of a partnership between it and Cargill.
Although it was not specified at the time, Wayzata-based food and agriculture giant and Puris said their joint venture would lead to a “new wave” of plant-based foods. Cargill vice president David Henstrom said at the time of the partnership that “Puris is a game changer in terms of taste and vertical integration in pea protein.”
Pea proteins, starches and fibers are Puris’ specialty, though the family-owned company, founded in 1985 in Iowa, also produces protein bars, beverages and baked goods.
Puris president Tyler Lorenzen told Twin Cities Business at the time that Puris planned to use their new resources – Cargill and the $25 million investment – to double-down on existing production facilities. He said that the company would share news on additional production facilities at a later date.
TCB reached out to Puris for information regarding its plans for the $12.5 million investment, but did not hear back as of press time.