Hazel Technologies, which has products designed to extend the shelf life of produce, has received $13 million in Series B funding.
That brings the total funding to $17.8 million for Hazel Technologies, according to a news release.
“This new financing brings in resources, both financial and strategic, that will grow Hazel from its current early commercial stage to become a profitable, world-leading provider of shelf life extension products,” Aidan Mouat, CEO at Hazel Technologies, said in the release. “We’ve delivered a solution that works both economically and environmentally, increasing efficiencies across the entire supply chain, and now we are able to roll these out to address food spoilage in multi-billion dollar markets internationally.”
The company produces sachets that are inserted into cartons of fruit and vegetables at the packing facility. During shipment, the sachets release vapor that slows the aging process of perishables.
Users of Hazel Technology products include Mission Produce for avocados, and Frieda’s Inc. for specialty and tropical produce.
“Hazel has a deep understanding of their customers that we rarely see in a start-up company,” Keith Gillard, general partner at Pangaea Ventures, which led the round of funding, said in the release. “Their drop-in solution for a broad set of supply chain applications will allow Hazel to be a true change maker in food waste reduction across the supply chain.”
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