Renewal Mill is a technology company.
Renewal Mill has raised $3.0M across 1 funding round.
Renewal Mill has raised $3.0M in total across 1 funding round.
Renewal Mill is a food technology company that upcycles byproducts from food manufacturing, such as okara from soymilk production and oat pulp from oat milk, into premium, high-fiber, high-protein, gluten-free ingredients and baking mixes.[1][2][5] It serves food producers (B2B ingredients), manufacturers, retailers, and consumers (B2C products), solving food waste—addressing 6 billion pounds of fibrous waste annually in the US—while reducing greenhouse gas emissions, water use, and carbon footprints by up to 60% compared to traditional flours.[2][3][5] The company has achieved national distribution via UNFI NEXT, partnerships with Cargill and Barilla, sales on Amazon and Thrive Market, and awards like Fast Company's World Changing Idea, demonstrating strong growth momentum in the upcycled food category.[2][3]
Renewal Mill was founded in 2016 in Oakland, California (now headquartered in Canandaigua, NY) by Claire Schlemme and Caroline Cotto, who met in a canoe and bonded over improving food system efficiency.[1][3][5][7] Schlemme's idea emerged from working at a juice shop, where she noticed excess nutritious pulp going to waste, inspiring her to explore okara—the byproduct of soymilk production—as a high-value flour alternative to reduce waste and provide affordable nutrition.[5][7] Cotto, with a background in nutrition (Georgetown '14), joined as COO to scale operations.[4] Early traction came via the 2018 Techstars Farm to Fork Accelerator, saving nearly 100,000 pounds of food in one year, and launching okara flour in stores and as an ingredient.[3]
Renewal Mill rides the upcycled food trend, capitalizing on rising demand for sustainable, nutritious alternatives amid climate concerns and food waste (one-third of global food lost).[3][6] Timing aligns with plant-based booms (oat milk, soymilk surges) and consumer focus on waste reduction, amplified post-pandemic.[3][4] Market forces like zero-waste mandates, sustainability certifications, and B2B sales cycles (2-3 years) favor its scalable model, positioning it against competitors like Green Spot Technologies and RISE Products by offering a broader "pantry" of ingredients.[1][4] It influences the ecosystem by pioneering a circular food economy, powering new products on shelves and inspiring industry shifts toward waste-to-value.[2][5]
Renewal Mill is set to expand its ingredient portfolio (e.g., more plant-based milk byproducts, nut waste, gluten-free spent grain) and capitalize on maturing B2B pipelines, with conversions from multi-year pilots hitting shelves now.[4] Trends like triple-bottom-line investing, regulatory pushes for emissions cuts, and growth in functional foods will propel it toward becoming the food industry's go-to upcycled supplier.[2][4] Its influence may evolve from niche innovator to category leader, potentially via further funding (e.g., past $1M SAFE seeks) and partnerships, fully closing the loop on food supply chains for planetary impact.[3][5] This builds on its core mission: turning waste into nutrition that feeds people and the planet.
Renewal Mill has raised $3.0M in total across 1 funding round.
Renewal Mill's investors include HG Ventures, Kaya Ventures.
Renewal Mill has raised $3.0M across 1 funding round. Most recently, it raised $3.0M Seed in January 2019.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jan 1, 2019 | $3.0M Seed | HG Ventures, Kaya Ventures |