Aseptia, a fruit and vegetable processor company built around patented technology developed at North Carolina State University, has secured $6 million in a third round of venture funding to expand its manufacturing capabilities.
SJF Ventures, which is based in Durham and invests in “green” technology, led the Series C round.
Investors also included a number of individual angels and Aseptia management.
The firm focuses on aseptic preservation technology that helps foods last for long periods of time without preservatives.
Aseptia’s manufacturing plant is located in Troy, N.C.
“Aseptia’s novel and patented technology enables the production of shelf-stable food products that maintain the flavors and nutrients of fresh food without the use of preservatives or refrigeration,” SJF Ventures noted in the funding announcement Wednesday. “The process also saves energy, packaging material and distribution costs while maintaining over 12 month shelf life, enhancing food safety, and improving product quality and nutritional value.”
Aseptia opened the plant in August of last year. It operates under the name Wright Foods.
Products include fruit sauces, tomato products, vegetables, soups and beverages.
“Aseptia is the cutting edge of sustainable food processing,” said David Griest, director at SJF Ventures. “Their technology has the potential to replace most every canned product with the equivalent of fresh foods and in a superior packaging form. Aseptia has achieved commercial scale production, allowing major food companies to both improve existing products and launch entirely new categories.”
Aseptia was incorporated in North Carolina in 2006 after licensing N.C. State technology to produce shelf-stable food products that maintain the flavor, color and nutrients of fresh foods without refrigeration. The Wright Foods’ facility will focus on producing retail food products for other companies, and whenever possible, it will use fruits and vegetables from local sources, officials said.
The company raised more than $1.15 million in financing in 2011 and sought another $2 million in its early days.
Aseptia qualified for a $150,000 grant from the One North Carolina Fund, which provides financial assistance to attract business projects to the state. Companies receive no money up front and must meet job and investment targets to obtain the funds.
