Pegasus Tech Ventures Launches Partnership With Japanese Snack Food Giant Calbee

Goal of partnership is to foster innovation and growth by investing in emerging technology companies

SILICON VALLEY, Calif., Aug. 8, 2024 /PRNewswire/ -- Pegasus Tech Ventures, a global venture capital firm based in Silicon Valley, has announced that it has entered into a partnership with snack food giant Calbee, Inc., which is headquartered in Japan with operations in Asia, North America, and Europe. 

Through this partnership, Pegasus will connect Calbee with startups developing breakthrough new products and technologies in the U.S., Europe, Israel, and Asia. Calbee is looking to collaborate with these companies to develop new healthy snack foods, new production techniques, new business models, and other innovations that will contribute to the growth and success of both the startups and Calbee. 

Masae Nakano, Managing Executive Officer and CTO Research & Development at Calbee, said, "The Calbee Group is strong in the snacks and cereals business in Japan, but we aim to further expand into the new food areas of the future. We intend to utilize Pegasus' long-standing track record in the field of open innovation and its global network to identify technologies and services that will be the seeds for next-generation product development and create new value at Calbee."

Anis Uzzaman, Founder and CEO of Pegasus, commented, "In recent years, the food tech industry has received particular attention as global eco-friendly initiatives have spread around the world. The development of eco-friendly food products, including meat alternatives, is being hailed as an important step towards sustainability. Pegasus has been pioneering innovation in the food tech sector by investing into world-class start-ups such as Impossible Foods. We believe that the collaboration between multinational corporations and the startup ecosystem will enable us to build a future where we can grow together by sharing advanced technologies and knowledge and encourage further innovation.

Uzzaman continued, "Through this partnership we will provide Calbee with information and ideas for innovative ventures not only in the food sector, but also in all related industries, and provide expert support to ensure that the partnership with the start-up company proceeds smoothly. With this support, we aim to effectively expand the global market footprint for Calbee, drive industry-leading innovation and deliver valuable results".

About Calbee, Inc.

Since its founding in 1949, Calbee has been practicing its contribution to people's healthy lives by carefully harnessing nature's bounty and creating delicious taste and enjoyment. As a food company that links lifelines, the Calbee Group is committed to creating a new future for food by placing sustainability at the heart of its management and solving social issues through food. The Calbee Group's consolidated sales for the year ending 31 March 2024 were JPY 303 billion. It mainly manufactures and sells potato, wheat, corn and bean-based snacks and cereal foods, and operates in 10 countries and regions, including Japan. For more information, visit https://www.calbee.co.jp/

About Pegasus Tech Ventures.

Headquartered in Silicon Valley, US, Pegasus is a venture capital company with LP investments from many of the world's largest companies and a fundamental focus on supporting innovation in large corporations. To date, Pegasus has invested in more than 260 venture-backed companies worldwide, including SpaceX, X (Twitter), Airbnb, SoFi, DoorDash, Color and Carbon. For more information, visit www.pegasustechventures.com. In addition, to promote innovation on a global scale, Pegasus also organizes the Startup World Cup (www.startupworldcup.io), the world's largest networking and pitch contest, with qualifiers in over 75 countries and territories worldwide. The competition is held in more than 75 countries and territories worldwide.

*The companies listed above do not necessarily represent all of Pegasus' portfolio companies.

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SOURCE Pegasus Tech Ventures