NEW YORK, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Generation Food Rural Partners I, LP (“GFRP”) has expanded its portfolio with its agreement to acquire Pittsburgh-based DisSolves, Inc. (“DisSolves” or the “Company”). DisSolves has created a patented technology that uses biodegradable and edible components that are GRAS (Generally Recognized As Safe) to create films and packaging materials that can be used in a variety of applications, including encapsulants, nutraceuticals, and pods of different types. These materials dissolve easily in water, milk, and juice. They come in small packages and do not change the taste of the liquids.
“The GFRP team is thrilled to welcome DisSolves into our family of innovative companies,” shares Frank Klemens, Managing Director of the GFRP fund. “DisSolves is bridging technology and food packaging to create solutions that are critical to reducing the impact of legacy packaging systems across many segments of the food supply chain. We are excited to work with Jared, to advance his innovations in edible films and bring his unique vision to the market.”
DisSolves founder Jared Raszewski will remain with the Company as Founder & Chief Product Officer and continue the work he started, developing and commercializing these breakthrough materials. “DisSolves was founded to reimagine food packaging in a way that’s both safe and environmentally friendly,” shares Jared Raszewski. “The demand we’ve seen from food companies tells us that we’re on the right track. I am excited to start working with GFRP because thanks to the fund’s resources and support, we’ll be able to fulfill pilot programs with some of the largest food producers in the industry. This will lead to scaled manufacturing for the first all-natural dissolvable food packaging. I appreciate everyone that supported DisSolves leading up to this acquisition, and I look forward to our next chapter in partnership with GFRP.”
The transaction marks a successful exit for the Company’s investors, including Innovation Works. “Having worked closely with Jared since he first joined our AlphaLab Gear cohort, I've seen his entrepreneurial journey build and grow,” said Afshan Khan, Portfolio Executive of the Hardware Sector at Innovation Works. “From the beginning, Jared has carefully analyzed and executed each move to understand his customer needs, develop and iterate his product offering, and advance the tech to the next level. His relentless determination to develop a product that makes a meaningful difference for customers and the planet is paying off. Jared exemplifies the grit and innovation that we aim to foster in all of our startups. It's been amazing to see how far DisSolves has come, and we are excited to see the next chapter unfold, with the great support and resources of GFRP.”
The GFRP Fund evaluates intellectual property focused on innovations in the agriculture, food, and protein sectors. The GFRP Fund invests to create new companies formed around research with the greatest chance for broad commercialization. These new companies will be headquartered in rural communities, creating living wage jobs to drive economic growth and development.
About DisSolves, Inc.
Dissolves, Inc. is a material science company that has created a patented technology that uses biodegradable and edible components that are GRAS (Generally Recognized As Safe) to create films and packaging materials that can be used in a variety of applications, including encapsulants, nutraceuticals, and pods of different types. These materials are soluble in water, milk, and juice in serving size packages and dissolve in the liquids without affecting the taste. For more information, visit www.dissolves.com.
About Generation Food Rural Partners
Generation Food Rural Partners (“GFRP” or the “Fund”) is a RBIC-licensed investment fund designed to drive economic growth and development in rural communities in the US. The Fund invests in the area of Food, Agriculture and Protein technologies to form new companies based on intellectual property, creating living wage jobs at its portfolio companies. GFRP is backed by members of the Farm Credit System, including Farm Credit Services of America, CoBank, Compeer Financial and Mid-America Farm Credit. GFRP is a part of Big Idea Ventures (“BIV”), the world’s most active investor in FoodTech, investing in the best food technology and AgriTech companies globally. BIV has teams in New York, Paris and Singapore and has invested in more than 100 companies across 30 countries and manages the New Protein family of funds and GFRP. For more information, visit us here.
Media Contact
DisSolves | Jared Raszewski | jared@dissolves.com
Big Idea Ventures | Olivia Chavassieu | olivia.chavassieu@bigideaventures.com |
+33 7 49 63 40 80
