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<p><strong><span class="legendSpanClass"><span class="xn-location">SAN FRANCISCO</span></span></strong> &#8212; Marubeni, a leading Japanese trading company, and KitchenTown, a food start-up incubator based in San Mateo, have signed an investment agreement last month. Marubeni&#8217;s investment will support the growth of KitchenTown&#8217;s consulting, and incubation activities. Together, the companies intend to support Japanese startups entering the U.S. market and the growth of American startups expanding into <span class="xn-location">Asia</span>. The amount of the investment was not disclosed.</p>
<p>&#8220;Startups drive the growth of the global economy as they break the mold of conventional wisdom and create new value,&#8221; said <span class="xn-person">Takanori Koso</span>, General Manager of Food Products Materials Dept. for Marubeni. &#8220;In order for these startups to achieve maximum impact, they need support to overcome hurdles in product development, commercialization, brand strategy and more. Incubators are a proven model to efficiently provide resources, expertise, and support to early-stage ventures. Our investment in KitchenTown will expand access to these services and reach even more food and foodtech companies in both the U.S. and <span class="xn-location">Japan</span>, in order to lead to positive food systems impacts.&#8221;</p>
<p>&#8220;Within the food industry, global challenges such as climate change, nutrition and health inequities are driving entrepreneurs to create a new generation of more sustainable, accessible, and healthy foods. Consumers are also increasingly aware of these issues and demanding responsible action from food companies,&#8221; adds <span class="xn-person">Rusty Schwartz</span>, CEO of KitchenTown. &#8220;With Marubeni&#8217;s investment, we will be better capitalized and positioned to enable innovators to make a difference.&#8221;</p>
<p>Founded in 2014, KitchenTown provides startups with the knowledge and resources needed to develop, commercialize, and launch a wide range of food and food tech ventures. In addition to specialized expertise and resources to support startups, KitchenTown also offers production space to entrepreneurs for R&;D and small-scale manufacturing, including a newly opened <span class="xn-location">San Francisco</span> lab and pilot facility for commercialization of alternative proteins. In addition to supporting startups, KitchenTown also has a broad client base, including legacy companies that need innovation support as well as corporate venture groups seeking advice on food tech investment opportunities.</p>
<p>Marubeni Corporation is over 160 years old and one of <span class="xn-location">Japan&#8217;s</span> largest trading companies. Active internationally in many sectors, including import/export, lifestyle, food, agri business, forest products, metals &; mineral resources, energy, infrastructure, finance, leasing &; real estate, construction, mobility and next generation business development.</p>
<p>KitchenTown and Marubeni first collaborated in 2021 to develop, commercialize, and launch a new product. The success of this project highlighted a strategic opportunity for more cooperation to support the growth of startups and food companies seeking to solve social issues through food tech.</p>

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