Kraft Heinz-backed venture fund leads Joywell Foods’ $6.9M funding round

PITTSBURGH — Evolv Ventures, a venture fund backed by Kraft Heinz, led Joywell Foods’ $6.9 million Series A financing round.

Based in Davis, California, Joywell is a food technology company developing a sweet protein portfolio. Other investors include Khosla Ventures, SOSV and Alumni Ventures Group.

“Our team is excited to bring sweet proteins to commercial scale with the support of our newest investor, Evolv Ventures,” Karen Huh, Joywell CEO, said in a prepared statement. “These funds bring us one step closer to our vision of eliminating the prevalence of sugar in our diet.”

Evolv, a $100 million venture capital fund for food technology, was launched in October 2018 by Kraft Heinz (NASDAQ:KHC), which is based jointly in Pittsburgh and Chicago. Evolv is based in Chicago.

Read more in the Pittsburgh Business Times.

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