Northern Gritstone has led MicroLub’s combined £3.5 million Seed round, making a £1.8 million investment into the ingredients technology company that replaces fats and oils with water without losing ‘mouthfeel’.
MicroLub, a University of Leeds spin-out, has developed a new ingredients technology that addresses key consumer demands for lower-calorie and sustainable food options.
Fats and oils make foods texturally appealing and tastier by adding ‘lubricity’ and a ‘creamy’ mouthfeel. However, they also add calories. With obesity contributing to a projected global annual health bill of $4.3 trillion, and over half the world’s population on course to be overweight or obese within the next decade, MicroLub is addressing the need for less-calorific healthier alternatives.
MicroLub also aims to contribute to sustainability by supporting the alternative protein industry in making plant-based foods less astringent.
The spinout already has strong traction with some of the largest food and food ingredients companies and with retail sales of reduced-fat dairy and plant-based food products in Europe, the US and the UK alone worth more than $120 billion, the market opportunity for MicroLub is significant.
The company was founded by Anwesha Sarkar, Professor of Colloids and Surfaces at the University of Leeds and Director of Research and Innovation for the School of Food Science and Nutrition. Anwesha is also Project Leader of the newly created National Alternative Protein Innovation Centre where MicroLub is a partner company.
Duncan Johnson, CEO of Northern Gritstone, said: “Northern Gritstone is delighted to support MicroLub’s world-class team. Obesity is a challenge in many countries reducing the quality of life of an individual and often shortening it. MicroLub shows that innovation coming out of the University of Leeds has the potential to help solve these global challenges.”
Professor Anwesha Sarkar, Founder of MicroLub, said: “When we discovered the technology and tested lubricity, we knew it had many potential applications, which we can now explore with this investment led by Northern Gritstone.”
David Peters, CEO of MicroLub, said: “There is a huge market opportunity in food for MicroLub. We already have strong traction with ingredients giants and some of the largest food and dairy companies, who are looking for innovative ways to make their products healthier, more nutritious and more sustainable. I am very excited at the journey ahead with our customers.”
Professor Nick Plant, Deputy Vice-Chancellor: Research and Innovation at the University of Leeds, said: “This groundbreaking research is addressing a major global challenge while placing the UK at the forefront of the quest to reduce health inequalities. We are proud of our track record of transforming academic research into commercial success.”
