Singapore foodtech startup Prefer raises $4.2m funding

Prefer, a Singapore-based food tech startup, has raised oversubscribed US$4.2 million in a pre-series A round co-led by At One Ventures and Chancery Hill Capital, with additional backing from Forge Ventures.

The new funding brings the company’s total equity raised to US$6.2 million.

Prefer plans to increase production, further develop its cocoa flavor technology, and grow its global partnerships, with a continued focus on Asia.

The company, which originated as a spin-off from the Agency of Science, Technology and Research (A*STAR), also announced the commercial launch of its soluble coffee and cocoa powders.

Prefer uses fermentation to produce flavors and ingredients from food manufacturing byproducts such as rice and soy.

The company has formed commercial partnerships with Ajinomoto in Thailand and The Coffee Ferm in Australia and New Zealand for international expansion.

Prefer supplies its ingredients to FMCG brands, food manufacturers, private label retailers, and flavor houses.

🔗 Source: Prefer

🧠 Food for thought

1️⃣ Ancient fermentation methods are finding new purpose in modern sustainability challenges

Prefer’s approach represents a fascinating convergence of humanity’s oldest food processing technique with today’s climate concerns.

Fermentation has been integral to human civilization for thousands of years, with evidence of its use by ancient Egyptians for winemaking around 1500 B.C.1. What began as accidental discoveries in beer and wine production has evolved into sophisticated biotechnology2.

Today’s food entrepreneurs are leveraging this time-tested process to address modern supply chain vulnerabilities and environmental impact.

The biochemical principles remain the same, with microorganisms transforming organic compounds into new products, but the applications now target sustainability rather than just preservation.

This historical continuity suggests that fermentation-based solutions like Prefer’s may offer resilience and scalability advantages over entirely novel food technologies.