Thursday, August 19, 2021

Apeel Sciences Takes $250M More

Santa Barbara-based Apeel Sciences, which has developed a plant-based coasting for fresh produce to extend its shelf life, has raised another big $250M funding round, a Series E for the company. The funding was led by Temasek, and also included Mirae Asset Global Investments, GIC, Viking Global Investors, Disruptive Technology Solutions, Andreessen Horowitz, Tenere Capital, Sweetwater Private Equity, Tao Capital Partners, K3 Ventures, David Barber of Almanac Insights, Michael Ovitz (Creative Artists Agency), Anne Wojcicki (23andMe), Susan Wojcicki (YouTube), and singer Katy Perry. The new funding brings its total raised to over $635M. The company--led by CEO James Rogers--has created a coaating it says helps reduce "shrinkage" in their produce inventory by 50%. The huge funding round comes only about a year since an earlier, $250M funding it raised back in May of 2020.