ChickP completes $8 million Series A for its chickpea protein isolate

Foodtech startup ChickP, which has developed a concentrated non-GMO chickpea protein isolate, has announced that it has raised $8 million led by investors from Singapore under Genisys Capital Private, Ltd., and backed by strategic partner and plant-based nutrition foodtech company Growthwell Foods, Ltd. with its leading investor, Temasek Holdings. The new round brings its total investment to $10 million and comes at the same time the company announces Liat Lachish Levy as its new CEO.

“I am excited to join ChickP and lead it to global scale-up in an area that is, without a doubt, the most relevant in the food industry today,” said Lachish Levy. “Completion of the current round of funding is an expression of confidence from our investors and partners in the company. I am glad to join ChickP at this unique moment, and to lead business expansion into the global market.”

She continued: “Over the past few months, ChickP has been planting the seeds for accelerated growth in the US, Europe, and Asia. This investment will bring greater scale-up and commercialization capabilities with our partners for our chickpea isolate ingredient, in multiple territories. Moreover, the expansion of ChickP’s team and opening of our new offices, including an R&D center and applications lab, will support local commercial activities.”

ChickP was founded in 2016 by Ram Reiden, MD. It develops ingredients that are based on patented technology developed at the Hebrew University that uses chickpea to fight malnutrition. Levy brings 20 years of experience having led a number of global ventures, such as building strategic partnerships with Kraft-Heinz and The Kellogg Company. She has an MSc in Organizational Behavior Studies, and a BA in Criminology & Sociology from Bar-Ilan University, Israel.

“As ChickP enters the European and the US markets in ‘full steam,’ it pleases me to welcome Liat as our new CEO, and to bring her leadership and commercial experience to leading the company’s strategy for the years to come,” added Reifen. “ChickP offers an innovative plant-protein ingredient, backed by research and supported by a highly talented team of foodTech, nutrition, and R&D experts. It has all the components for success in meeting the growing demand for plant-based nutrition.”

He added: “There are many untapped opportunities for ChickP. Consumers are seeking high protein content, allergen-free properties, and neutral taste. The functional and nutritional characteristics of our IP chickpea isolate are among the key characteristics that drive demand in use for functional products, performance nutrition, dairy alternatives, and snack and cereal segments.”