The disruptive food technology platform was recognized as one of the Boston area's top emerging companies—marking the culmination of a record year, and charting their course for growth in 2024.
BOSTON, Oct. 16, 2023 /PRNewswire-PRWeb/ -- Foodberry, a food technology company that partners with leading brands to develop innovative and sustainable new snack products, was selected as a 2023 recipient of the BostInno Fire Awards. The sister publication of the Boston Business Journal, BostInno's annual awards honor Boston-based companies that have demonstrated their success in raising funds, launching new products, bringing in new customers, growing their Boston footprint, and supporting the local community and innovation ecosystem.
"This year's BostInno Fire honorees represent some of the most innovative and exciting growth companies in Greater Boston. Their work and commitment to success is a key part of the ecosystem that is Boston business," said Carolyn Jones, Market President & Publisher of Boston Business Journal and BostInno.
Originally developed in Harvard and MIT labs, Foodberry's proprietary technology uses biomimicry to create nutrient-rich, plant-based coatings made from fruit and vegetable fibers—just like berries found in nature. Foodberry's patented ability to wrap and protect moisture-rich foods (including frozen products such as ice cream) unlocks new possibilities for fresh, portable snacking, transforming something that's generally unwieldy—like peanut butter, yogurt, or hummus— into a convenient bite-sized snack to enjoy on the go. These non-permeable coatings are not only flavorful, but also environmentally friendly, eliminating the need for traditional plastic packaging. The applications for this technology are far reaching, and allow for near endless product innovations.
The Fire Awards recognition marks the culmination of a year of achievements for Foodberry, and has positioned the company for continued growth in 2024. Milestones included:
- Developing and launching their first commercial product partnership as a B2B company with NadaMoo! dairy free ice cream, rolling out their Frozen Snack Bites in over 700 stores
- Securing consumer tests with several major global food brands across multiple product categories
- Doubling their total number of active product partnerships
- Increasing their sales / product revenue 5x YOY from 2022
Looking ahead, after a successful test pilot of their "coffee berries"—in partnership with a billion dollar, multinational coffee and tea company—the product will be rolling out as a commercial launch in several hundred stores across the US and Europe in 2024.
Additionally, Foodberry just signed a deal to develop and test new product innovations with one of the world's largest, most iconic multi-billion dollar food and beverage brands. Snacks have become the largest segment in the global food market, with Gen Z and Millennials consuming 5+ snacks per day; this global food conglomerate will be utilizing Foodberry's proprietary technology to create unique product extensions within the snacking category.
"We've always believed in the disruptive potential of our products, but have been challenged by getting them to consumers in a way that makes sense to them, and for our business," says Foodberry CEO Marty Kolewe. "Getting multiple products to market in 2023 with the right partners—and then seeing their success—demonstrated real commercial traction, which now puts us in a position to focus on growth, and impact, in 2024. This means dramatically expanding distribution for the current products, and launching exciting new ones."
After closing pre-Series A financing in 2023, Foodberry will begin taking on additional investors for a Series A funding round to fuel the company's projected growth.
For more information about Foodberry and its revolutionary food technology, please visit www.foodberry.co.
ABOUT FOODBERRY
Foodberry is a food technology platform that allows companies to showcase their signature ingredients in new ways by creating self-contained versions of their products, or developing unique food forms and categories. Developed by Harvard and MIT food scientists over a period of 10 years—and now with 20+ issued utility patents—Foodberry's proprietary process replicates nature's ability to wrap and protect foods with nutritious, plant-based coatings to create convenient and snackable "berries" in a limitless variety of sweet and savory applications. Their patented method for coating hydrated foods unlocks new possibilities for fresh, portable snacking, and creates opportunities to reduce food and packaging waste. For more information visit www.foodberry.co.
ABOUT BOSTINNO
BostInno is the sister publication of the Boston Business Journal. BostInno is a news and events organization dedicated to covering startups and innovation in Boston. BostInno is also part of American Inno, a network of sites in 44 markets and growing that catalyzes innovation nationwide.
Media Contact
Rachel Green, Carbonate, 1 914-310-4712, [email protected], https://www.carbonategroup.com/
SOURCE Foodberry
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