LONDON, June 13, 2018 /PRNewswire/ -- BluWrap, the global technology provider of patented and FDA-approved packaging technology that safely and naturally extends the shelf-life of fresh protein, has secured further equity financing through a Series D fundraising led by existing investor, the Wheatsheaf Group.
This fresh injection of capital will help advance the company's growth and build on the significant developments in scientific knowledge and technical capability that BluWrap has made over the past two years.
Perfecting its technology in partnership with its customers, BluWrap has proven that it can extend the shelf-life of fresh chilled salmon from a typical 14 days to 40 days and fresh chilled pork up to 90 days in a safe and sustainable way without compromising quality. The consistency of its offering has generated significant top-tier customer interest across multiple geographies and protein markets.
"We are delighted that our existing investors have chosen to build on their commitment to BluWrap. The additional investment will allow us to adequately prepare and scale up the business to move into our next phase of growth. We will be strengthening our team over the next few months in order to enhance our market engagement and customer experience," said Ola Strand, CEO of BluWrap.
In addition to building the team, the latest investment will finance the increased production of BluWrap's BluBuoys, a proprietary oxygen management device used to extend shelf life and ship fresh protein around the world. The investment will also be used to finance costs associated with the development of a high-throughput packaging line, an initiative that BluWrap is developing in collaboration with its commercial partners.
Anthony James, BluWrap's Chairman, and Chief Operating Officer of the Wheatsheaf Group said: "We are delighted to be backing BluWrap with this follow-on funding. With its technology developing at a rapid rate over the last two years and challenging the status-quo of the fresh protein packaging market, we are increasingly excited by the opportunity that lies ahead."
This is an interim funding round to allow the company to capture near-term opportunities. Due to extraordinary customer interest in the technology, the company may return to the market for additional growth capital later in the year.
BluWrap is a global company providing naturally extended shelf-life technology that has the potential to revolutionize fresh protein supply chains worldwide. The company's technology uses its patented oxygen management techniques to create and maintain an all-natural controlled atmosphere environment that extends the shelf life of perishable proteins. BluWrap's breakthrough technology enables suppliers of fresh protein to distribute their products in an environmentally responsible manner utilizing alternative transport to airfreight, while still delivering a fresh, high quality product to customers. For more information, visit www.bluwrap.com.
About Wheatsheaf Group
Wheatsheaf Group directly operates, invests in and helps to develop businesses in the food and agriculture sectors.
Working in partnership with our portfolio companies, through the activities of over 2,500 people in 34 countries and the development of innovative technologies, we aim to contribute enduring solutions to improve efficiency in the production of healthy and nutritious food to meet the food supply needs borne out of the increasing demands of a changing global population.
Wheatsheaf is one of three constituent parts of the Grosvenor estate which represents all of the business activities of the Grosvenor family. The others include:
Grosvenor Group, one of the world's largest privately-owned property businesses. It develops, manages and invests in property in more than 60 cities globally.
The Family Investment Office, which manages the Grosvenor Family's other interests including securities investments, rural estates in the UK and Spain, The Westminster charity foundation, a fine art collection and a family archive.
SOURCE Wheatsheaf Group