Israeli food-tech startup TripleW, a portfolio company of Millenium Food-Tech announced on Monday a $5 million SAFE agreement, with participation from Vincent Tchenguiz of the private equity firm CBG.
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TripleW, founded in 2016 by co-CEOS Tal Shapira and Amir Oranim, produces lactic acid derived from food waste, with the goal being to replace materials derived from fossil fuels used in consumer products.
Tchenguiz said, "We are pleased to join TripleW, a company engaged in the organic waste industry, which is traditionally responsible for 5% of global GHG emissions. TripleW's disruptive technology contributes significantly to the de-carbonization of the global economy."
TripleW has raised more than $17 million today and has won grants from the Israel Innovation Authority, the BIRD Foundation, VLAIO and the European Union Horizon 2020 program.
