The New Zealand dairy producer’s Nutrition Science Solutions unit has disclosed a $10m investment in US microbiome startup Pendulum.
Fonterra, a dairy cooperative and the largest company in New Zealand, has formed a corporate venture capital subsidiary of undisclosed size, provisionally called Nutrition Science Solutions (NSS).
NSS, which targets startups working on nutrition science technology and products, will operate as an independent entity with its own board and chief executive while using the existing resources and networks of the parent organisation.
The fund has announced a $10m investment in Pendulum, a San Francisco-based microbiome-derived metabolic healthcare technology company. As part of the deal, Fonterra has partnered with the company to co-develop microbiome products and expand globally.
Regarding NSS’s focus, Fonterra CEO Miles Hurrell said: “NSS will seek out, partner with and invest in global startups who will benefit from access to Fonterra’s dairy science expertise and understanding of the global market, while Fonterra will benefit from access to emerging technologies, advancements in science, and novel channels to market.
“This is a new way of working for Fonterra, but one in which we see a lot of potential.”
