US Silicon Valley-based venture capital firm Pegasus Tech Ventures has partnered with Japanese snack giant Calbee.
Through this partnership, Pegasus will connect Calbee with startups in the US, Europe, Israel and Asia that are developing innovative new products and technologies.
Calbee hopes to work with start-ups to develop new healthy snacks, new production techniques, new business models and other innovations that contribute to the growth and success of all involved.
Masae Nakano, Managing Executive Officer and CTO of R&D at Calbee, said: “The Calbee Group is strong in the snack and cereal business in Japan, but we want to continue to expand into the new food areas of the future. We intend to leverage Pegasus’ long track record in open innovation and its global network to identify technologies and services that will form the basis for next-generation product development and create new value at Calbee.”
Anis Uzzaman, Founder and CEO of Pegasus, commented: “Pegasus has pioneered innovation in the foodtech sector by investing in world-class startups like Impossible Foods. We believe that collaboration between multinational corporations and the startup ecosystem will enable us to build a future where we can grow together by sharing advanced technologies and knowledge and fostering further innovation.”
Uzzaman continued: “Through this partnership, we will provide Calbee with information and ideas for innovative ventures not only in the food sector but also in all related industries and provide expert support to ensure that the partnership with the start-up company runs smoothly. With this support, we aim to effectively expand Calbee’s global market presence, drive industry-leading innovations and deliver valuable results.”
To date, Pegasus has invested in more than 260 venture-backed companies worldwide, including SpaceX, X (Twitter), Airbnb, GrubMarket and DoorDash.
Founded in 1949, Calbee specializes in a wide range of potato, wheat, corn and bean-based products. As part of its growth strategy, Calbee entered into a licensing agreement with PepsiCo that allows the company to manufacture and distribute several Frito-Lay snacks.
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