A significant investment of £3.5m has been announced, benefiting Leeds University’s food technology spinout, MicroLub.
- The funding is led by Northern Gritstone with contributions from co-investors, including LIFTT and NPIF II – Praetura Equity Finance.
- MicroLub’s innovative technology aims to revolutionise the food industry by reducing the need for fats without compromising taste.
- In addressing obesity, MicroLub’s technology has significant market potential helping food companies offer healthier options.
- The investment will foster further development, partnerships, and team expansion for MicroLub.
Northern Gritstone, an investment company dedicated to science and technology ventures in the North of England, has announced a £3.5m seed round funding for MicroLub. Co-investors LIFTT and NPIF II – Praetura Equity Finance are also involved in this significant financial injection aimed at progressing advancements in food technology, focusing specifically on reducing dietary fat content.
Obesity is projected to contribute to a global annual health expenditure of $4.3 trillion. In response, MicroLub is developing solutions that offer less-calorific food alternatives. Their technology employs unique ‘scaffolds’ made from protein and water, coated with polysaccharides, to lubricate food while preserving the desired mouthfeel and reducing added fats.
MicroLub’s goal is not just enhancing health outcomes but also promoting sustainability. The technology aids the alternative protein industry, making plant-based foods less astringent. The company’s innovations have already garnered attention from major food and food ingredient companies across Europe, the United States, and the United Kingdom, particularly in the promising market of reduced-fat dairy and plant-based products.
The financial support will enable MicroLub to establish commercial partnerships and expand its workforce. This development signifies a substantial market opportunity, as highlighted by Professor Anwesha Sarkar, founder of MicroLub, who noted the wide-ranging applications of their technology facilitated by this investment.
David Peters, CEO of MicroLub, expressed enthusiasm for the potential health, nutritional, and sustainability enhancements their technology brings. Duncan Johnson, CEO of Northern Gritstone, emphasised the innovation emerging from the University of Leeds and its capacity to tackle global challenges such as obesity.
Professor Nick Plant, Deputy Vice-Chancellor for Research and Innovation at the University of Leeds, remarked on the groundbreaking nature of MicroLub’s research, proudly noting its contribution to reducing health inequalities and enhancing the UK’s leadership in commercialising academic research.
The investment in MicroLub highlights a pivotal step towards healthier food innovation, leveraging academic research to address global health challenges.
