September 18, 2009
Based in Taunton, Massachusetts, the innovative ice cream technology company, MooBella announced today that it has secured $18 million in series A funding from the W. Health L. P., which is a vc fund that is operated and managed by Inventages. This is a rather large amount of funding that will benefit MooBella greatly, because it will not only allow the company to expand its market, but also allow the company to change its legal status from an LLC to an incorporated company.
The ice cream industry is estimated to be a $60 billion industry and the proprietary technology that MooBella offers is revolutionary and sets out to disrupt the entire ice cream market. What makes MooBella stand out from other ice cream makers is that the company has a technology that allows the consumer to make ice cream cones in their own flavors in a hard ball cone. The machine works by instantly freezing the ice cream itself, while at the same time giving the ice cream the needed aeration and its flavor. Furthermore, the machine that MooBella has created freezes the ice cream into premium hard ice cream balls for cones. Another achievement that MooBella has achieved is winning the INNY Award from the Tech Museum of Innovation in San Jose, California. The company has also won awards for its technology from the National Restaurant Association, which awarded MooBella the 2006 Kitchen Innovations Award. MooBella also won awards from other organizations, such as the Food Network, and others.
According to MooBellaâ€™s president and CEO, Bruce Ginsburg; by having a partnership with a world class investment firm, such as Inventages, MooBella has been able to successfully complete a highly demanding process of building up the company and perfecting its technology and is now positioned to launch its product commercially later this year. Currently, MooBella is to strategically place its machines in highly populated areas in New England, especially in shopping centers and malls where there is a lot of consumer traffic.
According Inventagesâ€™ Erich Sieber, who also sits on MooBellaâ€™s board of directors; during tough economic times, like the times we live in today, only the most innovative and competitive companies get secure funding from investors. Furthermore, MooBellaâ€™s technology is not only innovative, but because of its ability to allow the consumer to generate ice cream in customizable flavors and dispenses the ice cream into premium hard frozen ice cream balls; the company is able to start a paradigm shift in the ice cream industry. Furthermore, once consumers see that the ice cream that they are making from the machines is fresh and their own flavor, they will come back for more. This fact poises MooBella for success in the marketplace.
Based in Geneva, Switzerland, Inventages is one of the worldâ€™s largest and best known investment firms that invests in the healthcare, life sciences, and nutrition industries. The firm currently has over $1.5 billion of capital under its management. Investages also has offices in London, Aukland, and Nassau. Some other companies in Investagesâ€™ portfolio include Accera, Atonomics, Boowl, Cavis, CM&D, Cryolog, EnCoat, EverNutrition, and others.
For more information about MooBella, click here.