Friday, 23 August 2019

Alchemy Foodtech raises S$2.5m in pre-series A funding

22 January 2019 | News

The start-up aims to partner food manufacturers in the region to create low-GI and hence healthier versions of their products

SINGAPORE start-up Alchemy Foodtech has raised S$2.5 million in pre-series A funding, which will accelerate its development of lower glycemic index (GI) food staples and the commercialisation of proprietary functional ingredient 5ibrePlus and related production processes. Foods with lower GI cause blood glucose levels to rise more slowly, making them healthier than high-GI foods.

The patent-pending functional ingredient 5ibrePlus can lower the GI of refined white carbohydrate-based food -- bread or noodles.5ibrePlus is gluten-free and vegan, made from plant fibres and extracts.

The start-up aims to partner food manufacturers in the region to create low-GI and hence healthier versions of their products. Existing partners include bakery Gardenia, pau maker Lim Kee Food Manufacturing, and Tan Seng Kee Foods, maker of Kang Kang noodles. As a food item's GI is affected by the recipe, cooking and processing methods, Alchemy Foodtech has to customise the use of 5ibrePlus for each partners’ recipe.

Besides manufacturers, Alchemy is working with food service companies such as Han's F&B Group, with which it has a pilot to develop lower GI versions of dishes such as fried rice and pastries. Han's aims to launch these new products by the first half of 2019.

The start-up's foodtech laboratory CookLab@Alchemy was officially opened at the Science Park recently. It includes a food lab where Alchemy's ingredient blends are developed and a biochemistry lab where research on digestion rates of carbohydrates and analysis of food texture is conducted.

 

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