15th Oct 2019 13:45
(Alliance News) - Investment company Agronomics Ltd on Tuesday said it has invested USD250,000 in a US-based food company Seattle Food Tech Inc, trading as Rebellyous Foods.
The company's investment is in the form of a Simple Agreement for Future Equity, that will convert to 1% equity in the next priced funding round of Rebellyous Foods. The investment is being made from existing resources of Agronomics.
Rebellyous Foods, which is based in Seattle, US, is a food technology and manufacturing company focused on developing plant-based chicken nuggets at scale to be price competitive with conventional chicken nuggets.
Agronomics shares were down 7.9% at 6.10 pence each in London on Tuesday afternoon.
By Tapan Panchal; [email protected]
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