District Ventures Leads $10 Million Investment in Plant-Based Technology Company

District Ventures Leads $10 Million Investment in Plant-Based Technology Company

Proven in 2017 by serial entrepreneur, Dr. Darren Burke, and previous NHL ahead, TJ Galiardi, Outcast tackles the growing worldwide problem bordering foodstuff squander in equally a distinctive and sustainable way. Utilizing turned down, surplus, or previous-day fruits and veggies from area farms, foodstuff processors and grocers, Outcast’s ground breaking foodstuff upcycling technologies creates superior-high quality products with its personal line of ‘Plant-Strong’ upcycled protein powders and nutritional dietary supplements, in addition to offering its plant-primarily based components to a wide variety of industries including beauty, agriculture and pet foods brands.

“We are delighted to help a business that not only addresses the challenges of meals squander but is generating a foreseeable future environment rooted in sustainable food generation,” mentioned Arlene Dickinson, Standard Lover of District Ventures Funds. “We’re energized to companion with Outcast with our expenditure as they put together to scale their sustainable plant-centered know-how.”

“We saw the large difficulty of food items waste as an opportunity to build a new class in the rising nutritional supplement marketplace. All we necessary to do was determine out how to completely transform waste stream foodstuff into high purity, nutrient-dense, extended shelf-daily life purely natural wellness products,” mentioned Dr. Darren Burke, Co-Founder and CEO of Outcast Foodstuff. “We have established a win for everyone in the supply chain with Outcast. Retailers not only slash fees linked with hauling unsold generate away to the landfill, but you will find also a reduction in carbon footprint, and customers love delightful and sustainable items. We’re completely ready and enthusiastic to scale our functions with our new associates,” added TJ Galiardi, Co-Founder of Outcast Foodstuff.

“In accordance to the Foods and Agriculture Organization of the United Nations, approximately a single-third of meals globally is squandered or lost, contributing to higher greenhouse gas emissions. This is why inventive entrepreneurs like Dr. Burke and TJ Galiardi who are possessing this sort of a constructive environmental effects are so vital,” included Cheri Corbett, Director, Cleantech Follow, BDC Cash. “We are thrilled to guidance this venture and see how a substantial opportunity, ahead-considering organization these kinds of as Outcast Foodstuff will mature.”

Outcast currently companions with a number of grocers, manufacturers, and farmers across Canada who offer an normal of one million lbs . of day-to-day food items waste. Regarded as ‘first-to-market’ in the upcycled food classification, the enterprise presently operates from its facility in Dartmouth, N.S. with designs to scale drastically in 2021.

About District Ventures Capital

District Ventures Money is a enterprise money fund investing in revolutionary providers in the meals & beverage and health & wellness sectors. The fund is led by Typical Associate, Arlene Dickinson. District Ventures is the foremost ecosystem in Canada that focuses on the CPG space and provides capital, marketing and advertising assistance, programming, and commercialization as aid to the businesses it invests in.

For a lot more facts, visit www.districtventurescapital.com.

About BDC Capital

BDC Funds is the financial investment arm of BDC, the bank for Canadian business people. With about $3 billion less than administration, BDC Cash serves as a strategic associate to the country’s most revolutionary firms. It presents firms a total spectrum of capital, from seed investments to growth equity, supporting Canadian business owners who have the ambition to stand out on the environment stage. Pay a visit to bdc.ca/cash.

Supply District Ventures Cash

For additional details: Media Speak to, Jerry Nasr, PR and Social Communications Supervisor, District Ventures Funds, 416-585-2090, [email protected]