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Food

Apeel raises $250 million to extend produce shelf life

by Melody M. Bomgardner
June 5, 2020 | A version of this story appeared in Volume 98, Issue 22

 

Apeel Sciences, a start-up based in Santa Barbara, California, has raised $250 million from GIC, Viking Global Investors, and others including celebrities Oprah Winfrey and Katy Perry. The firm has now raised a total of $1 billion for a plant-derived coating that it says extends the shelf life of fruits and vegetables by 50%. Made from lipids and glycerolipids derived from waste peels, seeds, and pulp, the coating traps moisture inside produce and keeps out oxygen. Apeel says it is working with food retailers in the US and abroad.

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