Agtech start-up The Healthy Grain has successfully completed an $8 million capital raising round, with the full amount invested by Teijin Limited, a Japanese listed group operating a wide range of advanced technology businesses.
The Healthy Grain was founded in 2014 by CSIRO and Australian Capital Ventures Limited (ACVL) to commercialise a portfolio of non-genetically modified grains with substantial health attributes. The first product of the portfolio, BARLEYmax, a patented high fibre variety of barley developed by CSIRO, is already available in several products in Australia and abroad.
ACVL is a Canberra-based venture capital funds management company specialising in early expansion investment. ACVL is the manager of the Canberra Business Development Fund (CBDF), an equal- share investment by the ACT Government and Hindmarsh, a national construction and property development company. ACVL Chairman and Chairman of Hindmarsh, John Hindmarsh, said, “Australian Capital Ventures is pleased with the progress of The Healthy Grain, which shows that, as global consumers become increasingly aware of the importance of healthy food, high quality Australian healthy products have an excellent growth potential”.
John Hindmarsh is a director of The Healthy Grain and said that the funds raised would be used by the company to expand the global market penetration of BARLEYmax, to complete the development and start the commercialisation of two new products, an ultra-low gluten barley for food use and a novel variety of healthy black rice, and to potentially add similar new healthy grains to the company’s portfolio of grains.