Mondelez: makes investment in Israeli food tech startup
(CercleFinance.com) - Mondelez's venture-capital arm has invested in Torr, an Israeli foodtech startup, the snack giant said on Tuesday without disclosing the terms of the deal.
Torr was founded by food scientists and culinary experts aiming to challenge multi ingredient snacking categories with "breakthrough" technology, Mondelez said.
The investment is the result of a previously announced collaboration between SnackFutures, its venture capital arm, and The Kitchen, an Israeli incubator with 18 companies in its portfolio, the company added.
The Israeli foodtech sector is considered as one of the most dynamic and exciting innovation ecosystems in the world.
SnackFutures seeks to accelerate innovation through the invention of new brands and businesses, as well as and venture investments with start-up entrepreneurs.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Torr was founded by food scientists and culinary experts aiming to challenge multi ingredient snacking categories with "breakthrough" technology, Mondelez said.
The investment is the result of a previously announced collaboration between SnackFutures, its venture capital arm, and The Kitchen, an Israeli incubator with 18 companies in its portfolio, the company added.
The Israeli foodtech sector is considered as one of the most dynamic and exciting innovation ecosystems in the world.
SnackFutures seeks to accelerate innovation through the invention of new brands and businesses, as well as and venture investments with start-up entrepreneurs.
Copyright (c) 2020 CercleFinance.com. All rights reserved.