Mara Renewables Corporation, a Dartmouth, Canada-based provides sustainable plant-based nutritional and nutraceutical ingredients for human health, raised $39.9M in growth equity funding.
The round was led by InvestEco Capital with participation from BDC Capital, Export Development Canada, MacKinnon, Bennett & Company, Thai Union Ingredients. Co., as well as existing investors. Mara will close a second Clear Creek Investments closing in the next month as part of additional financing.
The company intends to use the funds to further expand new R&D initiatives into commercial products.
Led by CEO Arturo Ania, Mara Renewables Corporation has built a portfolio of microalgal strains, some processed using a clean, environmentally-friendly extraction method to develop high quality algal oil. Approved by multiple respected regulatory and certification bodies around the world — including The Non-GMO Project, Health Canada and the European Food Safety Authority — Mara’s ingredients are utilized by global infant nutrition, supplement and food and beverage customers.
The company’s global teams span Canada and the UK, with headquarters in Dartmouth, NS.