BIO International – San Diego – June 4th, 2024
Clever Fruit Products, the developer of fermented natural health ingredients for microbiome modulation, announces at BIO, the closing of the second tranche of Pre-Seed funding.
This adds another $250k in invested capital, bringing the total Pre-Seed finance to $750k of the planned $1m. Total invested capital, including non-dilutive grants, is $2.1m.
“This is just another good milestone for Clever. We remain capital efficient. We had one new investor in this round, with 90% of the capital coming from existing investors, so raising capital is not straining our bandwidth”, said Sean Sears, Chief Executive Officer for Clever. He added, “In Q2 and Q3, we will continue our efforts to establish fruit and manufacturing partnerships in Wild Blueberry County and in Q4 we will resume our pursuit of Mexican fruit markets including blueberry, raspberry, blackberry, strawberry and avocado.”
Use of funds in 2024 include continued development of wild blueberry products including a Wellness Shot for the functional drink market, additional science for a nutraceutical for age-related cognitive decline, the development of inhouse manufacturing capability, participation in the food waste initiatives such as ReFED and the Tasmanian Fruit Waste Study.
ABOUT CLEVER FRUIT PRODUCTS (Clever):
Clever is a developer of fermented natural health ingredients for functional foods (beverages), supplements, and nutraceutical brands. Its mission is to enhance the health of society using fermentation to increase the potency of antioxidant-rich superfruit. Clever’s products modulate the microbiome aiding the body’s gut, brain, skin and cell health. It works to bring the microbiome back into balance.
Media contact:
Info@cleverfruitproducts.com