Impact Food’s round was listed on Vevolution in March 2022 and it only took a few months to close the financing round, which included an investment from Ahimsa Foundation for $150,000
CULT Food Science Corp (CSE:CULT, OTCQB:CULTF) has announced that its affiliate, Vevolution, recently played a critical role in Impact Food’s closing of its $500,000 strategic round of financing, with a portion of the round made possible through the use of Vevolution’s Investment Marketplace.
Impact Food’s round was listed on Vevolution in March 2022 and it only took a few months to close the financing round, which included an investment from Ahimsa Foundation for $150,000. Other investors include Future Food Fund, Serpentine Ventures, George Sorbek, and Pierre Jouve.
“We are very pleased that Vevolution is able to work with both cellular agriculture start-ups and other alternative protein companies like Impact Food and provide them with a platform to connect with investors,” said Lejjy Gafour, CEO of CULT in a statement.
“CULT believes whole-heartedly in what Vevolution is doing and that is why we invested in it earlier this year. Impact Food’s experience is just confirmation that Vevolution is succeeding in its goal, and we are glad we are able to support other alternative protein endeavours,” he added.
Vevolution is meant to be used as an ally for vegan businesses and connect investors and start-up companies that are aligned in their views and goals, in order to fund promising companies that are looking to disrupt animal agriculture and create a more sustainable future. Impact Food is now another addition to Vevolution’s fundraising success stories.
Vevolution, at its core, is a media production company and investment platform. The importance of Vevolution’s role in the connection of Impact Food with its investors is at the crux of why CULT invested in the portfolio company, to begin with.
The cellular agriculture sector strives to create sustainable solutions for the world’s food system but connecting the businesses, individuals, investors, and leaders with a common initiative to improve and substantiate cell-based agriculture is equally as important. The announcement of Impact Food and its recent closed round is confirmation that Vevolution’s role in cellular agriculture is vital.
The first-of-its-kind in North America, CULT Food Science aims to provide individual investors with unprecedented exposure to the most innovative start-up, private or early-stage cultivated meat, cell-based dairy, and other cultured food companies around the world.
