BC Business
CanDry Technologies, Maia Farms and Renaissance BioScience are three of the eight Canadian firms pulling in just under $2 million from CFIN
We at BCBusiness are still waiting with bated breath for the Canadian Food Innovation Network to fund a foodtech startup that sounds lame. So far, no luck. We’ve covered CFIN’s funding announcements a few times and we’ve never been disappointed. The trend continues today, as the organization has announced close to $2 million in funding for eight Canadian firms, three of which are based in B.C.
It’s the second investment made through CFIN’s FoodTech Next Program, which helps early-stage companies pilot their innovation in operational food sector environments.
The three B.C. companies to receive funding are:
Vancouver-based CanDry Technologies, which combines vacuum, microwave and infrared technologies to create a patented dehydration system that preserves nutrients and reduces costs. The company is now tailoring the technology for the Canadian agri-food sector, with a focus on optimizing the dehydration process for berry products and spent grains.
North Vancouver’s Maia Farms, the manufacturer of CanPro—a high-protein ingredient that helps food manufacturers make products.
And UBC-based Renaissance BioScience, which is tackling challenges in plant-based protein products by using its clean-label, non-GMO yeast platform. This proprietary technology transforms undesirable flavors in plant-based proteins, making them more acceptable and versatile.
The other projects to receive funding: Index Biosystems (Ontario), Harvest Moon Foods (Quebec), Real Life Robotics (Ontario), DeepSight Réalité Augmentée (Quebec) and Rfine Biomass (Nova Scotia).
To date, CFIN has awarded more than $19M to 65 Canadian foodtech projects.