
Renewal Mill
Renewal Mill is a next generation ingredients company that upcycles byproducts from food manufacturing into high-quality ingredients.
Date | Investors | Amount | Round |
---|---|---|---|
- | investor investor investor investor investor | €0.0 | round |
N/A | €0.0 | round | |
investor | €0.0 | round | |
investor | €0.0 | round | |
* | N/A | Series A | |
Total Funding | 000k |
USD | 2022 | 2023 |
---|---|---|
Revenues | 0000 | 0000 |
EBITDA | 0000 | 0000 |
Profit | 0000 | 0000 |
EV | 0000 | 0000 |
EV / revenue | 00.0x | 00.0x |
EV / EBITDA | 00.0x | 00.0x |
R&D budget | 0000 | 0000 |
Source: Dealroom estimates
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Founded in 2016 by Caroline Cotto and Claire Schlemme, Renewal Mill operates within the sustainable food sector, specifically addressing the significant challenge of food waste. The company is built on the principle of a circular economy, transforming byproducts from food manufacturing into valuable ingredients and consumer products. This business model not only tackles the environmental issue of food loss but also creates a new revenue stream from materials previously considered waste. The founders' backgrounds are integral to the company's mission; Claire Schlemme, with prior experience founding a juice company, witnessed the massive amounts of pulp waste firsthand, which sparked the initial concept. Caroline Cotto brings a background in nutrition and sustainable food systems, having worked with the U.S. Agency for International Development on food-related initiatives.
Renewal Mill's core operation involves upcycling, with its initial flagship product being organic okara flour. This gluten-free, high-fiber, and high-protein flour is derived from the soybean pulp leftover from soymilk production. The company has since expanded its ingredient portfolio to include oat protein, derived from the pulp of oat milk production. These upcycled ingredients are then sold to other food manufacturers (B2B) and are also used in Renewal Mill's own line of consumer-packaged goods (B2C), which includes baking mixes for items like brownies, cookies, and cakes, as well as standalone flours. This dual approach allows them to capture value at different points in the supply chain, serving both commercial clients and end consumers. By providing a quantifiable and marketable solution to industrial food waste, Renewal Mill offers its partners a way to improve sustainability metrics and tap into the growing market for environmentally conscious products.
Keywords: upcycled ingredients, food waste reduction, circular economy, sustainable food, okara flour, plant-based products, CPG, food technology, women-owned, baking mixes