Hazel's core technologies revolve around the release of active, shelf-life enhancing vapor from packaging inserts called sachets.
Hazel Technologies, Inc., a Chicago-based, USDA-supported agricultural technology company, announced $13 million in Series B funding, bringing the company's cumulative total raised to $17.8 million. The Series B round was led by Pangaea Ventures, Canada, and S2G Ventures, Chicago. The oversubscribed Series B round also attracted new investors The Grantham Foundation, Boston, and Asahi Kasei Ventures, Tokyo, Japan, who join returning investors Rhapsody Venture Partners, Cambridge, Mass.; Serra Ventures, Champaign, Ill.; Valley Oak Investments, San Francisco; Climate Impact Capital, Houston, Texas; ImpactAssets, Bethesda, Md., and more.
"Pangaea is thrilled to lead this financing in Hazel," says Keith Gillard, general partner, Pangaea Ventures. "Hazel has a deep understanding of their customers that we rarely see in a startup company. Their drop-in solution for a broad set of supply chain applications will allow Hazel to be a true change maker in food waste reduction across the supply chain."