In brief: Alchemy gets 7-figure funding to fight Asia’s diabetes problem

Alchemy FoodTech, a Singapore based foodtech solution company specializing in the development of lower glycemic index (GI) carbohydrates to tackle diabetes, today announced the completion of its first close to their pre-series A round led by Heritas Capital Management and co-led by Seeds Capital, the investment arm of Enterprise Singapore.

The funding will fuel the company’s next stage of technology and product development, talent acquisition, and manufacturing capabilities.

The company’s invention, 5ibrePlus, aims to tackle [diabetes incidence] by altering the GI and increasing the fibre content of common white refined carbohydrate staples like white jasmine rice, bread, and noodles without changing the taste, texture, and color of the food.

The innovation has been proven in human clinical studies to lower GI of all refined white rice.

Source: Alchemy FoodTech

The investment is the first collaboration between Singapore-based private equity firm Heritas and government-linked Seeds Capital under the Enterprise Singapore Startup SG Equity Scheme, which facilitates co-investment with private-sector entities into “deep tech” ventures.

Alchemy will use the funding to further develop its proprietary technology, complete clinical studies, and accelerate projects with food manufacturers to incorporate the startup’s innovation into their products.

Alchemy is also backed by NUS Enterprise, the innovation arm of the National University of Singapore.