Apeel Sciences raises $250 million in funding round led by GIC


US firm Apeel Sciences has raised $250 million in a funding round led by Singapore’s sovereign wealth fund GIC.

Based in California, Apeel Science has developed an edible, plant-derived coating that when sprayed on harvested produce can extend its shelf life.

“Apeel's technology adds a plant-derived ‘peel’ to the outside of the produce that reduces waste by giving fresh produce 2-3x more shelf life,” said the company’s blog when announcing the investment round on 26 May.

Founded in 2012 by James Rogers with a grant from the Bill & Melinda Gates Foundation, Apeel Science is reported to have raised a total of $360.1 million, according to Crunchbase. Investors in this round were reported as Viking Global Investors, Upfront Ventures, Tao Capital Partners and Rock Creek Group.
Two celebrity investors, Oprah Winfrey and Katy Perry, were mentioned in Apeel Sciences' announcement.

With GIC, this brought the total number of investors in this round to seven.

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