Funding will accelerate sweet protein platform development, commercialize consumer concepts, and establish partnerships with better-for-you CPG partners
Joywell Foods, a food technology company developing a sweet protein portfolio, announced the closing of a $6.9M Series A financing round. The round was led by Evolv Ventures, a venture fund backed by Kraft Heinz. Combined with a previous seed round, this latest raise brings the company's total funding to $13.2M. Energized by the company's continued progress in developing its technology platform and processes for commercial scale, both Khosla Ventures and SOSV—who participated in Joywell Foods Seed round — have returned to support the company's growth, alongside Alumni Ventures Group and other investors.
Previously known as Miraculex, Joywell Foods will use the new capital to continue its mission to reinvent the experience of everyday foods. The funding will enable the build-out of its proprietary technology platform, broaden its sweet protein portfolio and expand R&D operations. The company also plans to test a number of consumer offerings through D2C and limited retail.