N&E Innovations raises AUD $2.4 million for waste ingredient

N&E Innovations has raised AUD $2.4 million in Series A funding led by Tundra Capital. The Singapore company makes an edible antimicrobial ingredient from agricultural waste.

The round also included SGInnovate, The Radical Fund, Archipelago VC and SG7 Group. Existing investors Cercano, SEEDS Capital, Elev8 Capital and Qian Hu Corporation also participated. The funds will support international expansion, regulatory work and team growth.

N&E was co-founded in 2020 by biomedical scientist Didi Gan. Its patented ViKANG99 technology extracts antimicrobial compounds from agricultural by-products, including discarded cashew nut husks, and refines them into a food-grade ingredient.

The ingredient can be applied directly to fresh produce or incorporated into packaging, cling wrap, hand sanitiser and cleaning products. According to the company, it can help fresh produce last up to four times longer.

N&E already supplies customers including Singapore Airlines and supermarket chain Sheng Siong. Its KeepWell hand sanitiser was also selected for the official fun pack at Singapore's National Day Parade.

Gan said the fresh capital would help broaden commercial use of the technology overseas.

"Food waste is usually seen as something we need to get rid of. We see it as a resource," said Didi Gan, Co-Founder, N&E Innovations.

"We can take something like a discarded cashew nut husk, extract the compounds that naturally fight microbes and turn them into an ingredient that can help protect food," Gan said.

"The exciting part is that ViKANG99 isn't limited to one product. It can be incorporated into packaging, used on fresh produce or formulated into cleaning products, which gives the technology enormous potential," Gan said.

Investor backing

Tundra Capital said the investment aligns with its focus on food system technologies. The Australian agrifood investor led the Series A as N&E expands in the United Kingdom, Germany, Vietnam, Taiwan and Australia.

"N&E Innovations is one of those startups that ticks every box - their technology transforms agricultural waste into a valuable ingredient, their antimicrobial active ingredient is applicable at various points across the food value chain, and they have demonstrated customers globally love their product," said Timothy Hui, Managing Partner, Tundra Capital.

The funding is earmarked for three main markets: antimicrobial food packaging, plant-based cleaning and post-harvest agriculture. N&E is also developing a licensing-led model to place its ingredient in partner products.

One early product is The Orange Wrap, an antibacterial cling wrap that incorporates ViKANG99 into the material rather than acting only as a physical barrier.

Australia focus

Australia is becoming a key market for the business across retail and commercial channels. Kinoya has been appointed exclusive Australian distributor of the KeepWell range, with selected IGA supermarkets in Sydney set to be the initial retail outlet.

KeepWell cleaning and hygiene products are being trialled by hospitality operators including M Bar Thai Eatery, Show Nom Dessert and Show Neua Thai. The Orange Wrap has also entered the Australian foodservice market through Perth distributors Familiar Goods and Ward Distribution.

Among its users is Perth deli business The Re Store, which operates in Northbridge and Leederville and specialises in smallgoods, cheeses, imported groceries and catering. The business said it had adopted the wrap for daily handling of premium deli products.

"At The Re Store, we handle prosciutto, salami, mortadella and more every single day, so the wrap we use matters as much as the produce itself," said Lorenzo and Moreno Berti, Owners, The Re Store.

"The moment we tried The Orange Wrap, the thickness and quality stood out straight away. It's a completely different wrap to what we were using before and we love the strength of the packaging too.

"When you're handling the products we do daily, such as meats, cheeses and pasta, you need something that will be reliable and protect the integrity of the product, and this does exactly that," the Berti brothers said.

Distributors have also pointed to food safety as part of the product's commercial appeal in hospitality settings.

"The antibacterial properties are what really set The Orange Wrap apart. It gives operators who care about food safety and hygiene real confidence in a busy kitchen," said Kieran King, Owner, Familiar Goods.

"For our customers, it's about a genuinely better alternative that doesn't compromise on performance while helping to extend shelf life, reduce waste and get more value out of every roll," King said.

N&E is also moving into post-harvest treatment for fruit and vegetables through wash-and-guard systems that apply ViKANG99 after harvest. The treatment is designed to suppress mould and microbial growth during storage, transport and retail as an alternative to conventional treatments such as chlorine and wax.