Law firm Freeths has advised MicroLub, a deeptech ingredient solutions company, on its £7 million funding round led by Northern Gritstone.
Founded by Professor Anwesha Sarkar and spun out from the University of Leeds, MicroLub has developed patented protein-based ingredient technology that enables food manufacturers to significantly reduce fat and calorie content while maintaining quality, taste and texture.
The business is working with some of the world’s largest food and ingredient companies and operates from Nexus in Leeds.
Investment company Northern Gritstone is focused on supporting ambitious science and technology businesses across the North of England.
The funding will support MicroLub’s next phase of growth, including accelerating its expansion into the US and Asian markets, growing its team and further developing its proprietary ingredient technology.
The investment will also help the business convert existing customer trials into commercial agreements as it continues to scale internationally.
The Freeths team was led by Corporate Senior Associate Farrell Tang, supported by Corporate Partner Dahren Naidoo and Corporate Trainee Legal Executive Lucy Barrett.
Farrell Tang (pictured) said: “This investment marks a significant milestone for MicroLub and provides a strong platform for the next phase of the company’s growth.
“Having already established itself as an innovative business, MicroLub is exceptionally well positioned to further develop its technology and accelerate its expansion into key international markets.
“Freeths has a strong track record of advising innovative technology businesses, university spinouts and investors on growth capital transactions, and it was a pleasure to support the MicroLub team on this important deal.
“We look forward to seeing the business continue its impressive growth trajectory in the years ahead.”
