Singapore-based food tech company CRUST Group announced yesterday (November 1) a new round of strategic investors and collaborations, which will allow it to expand its presence in the Japanese market.
The company has received investments from Leave A Nest Singapore, Glocalink Singapore, Ales Global, and Mitsui Sumitomo Insurance Venture Capital (MSIVC), the corporate venture arm of Mitsui Sumitomo Insurance under MS & AD Insurance Group.
The CRUST Group will work closely with its partners to develop new upcycled products in Japan with the aim of creating more partnerships with businesses in food service and retail.
We are excited to partner with strategic investors such as Leave A Nest, Glocalink, Ales Global and MSIVC for our expansion in Japan. Working alongside strong investors who are dedicated to the SDGs, we’ll be able to pioneer the upcycled movement in Japan and shift the way we manufacture beverages for the better.
Travin Singh, Founder and CEO of CRUST Group
Upcycling surplus ingredients
With the increasing scarcity of resources and limited agricultural expansion in land-scarce countries such as Singapore and Japan, food waste and loss is high on many countries’ food security agenda.
According to the United Nations, the global cost of food waste amounts to a shocking US$2.6 trillion a year. In 2018, 6 billion kgs of food was lost and wasted in Japan, approximately the amount of food the 13 million residents of Tokyo consume in a year.
In Singapore, it is common for bakeries and restaurants to throw out unsold bread at the end of each day. CRUST Group upcycle surplus ingredients like bread and food waste like fruit peels into unique products like CRUST sustainable beers and CROP functional drinks.
The company works closely with partners in the food service and retail industry such as restaurants, hotels, and supermarkets to create its products.
It has recently launched a pale ale made out of surplus bread from artisanal bakery Maison Kayser. It has also collaborated with Edible Garden City, Tiong Bahru Bakery, The 1925 Brewing Co and Shilin Night Market
Shop CRUST Group now on VP Label and get $20 off when you checkout with Pace and the code PACEVP20 (min spend $80).
Featured Image Credit: CRUST Group / Salt Mag