Frontier IP Group PLC’s (LON:FIPP) holding in Nandi Proteins is worth around £800,000 more after a funding round at double the price of the previous one.
Nandi raised £250,000 from new and existing investors at a price which values it at £7.6mln. Frontier IP retains a 20.8% holding.
Nandi is a spin-off from Heriot-Watt University, Edinburgh, and has patented a protein process to reduce sugars, fats and emulsifiers in processed food without adversely impacting taste and texture.
This funding will enable Nandi to develop further its relationships with multinational food companies.
Neil Crabb, Frontier IP’s chief executive, said: "Nandi's technology enables food companies to improve the nutritional profile of their products.
“Frontier IP has been delighted to assist with Nandi's funding round and will continue to deploy its resources to support the rapid commercialisation of this timely technology which offers a solution to such an urgent requirement for the food industry."