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Early Money: A beverage 'printing' startup raised a $30M seed round


Matt Mahar Lance Kizer Cana Technology
Cana Technology, headed by CEO Matt Mahar, left, and Chief Science Officer Lance Kizer, raised $30 million in seed funding.
Cana Technology

Humanity may have just taken another step toward a 3D-printed future.

Cana Technology Inc. has found a way to "print" juice, coffee, seltzer and cocktails. The Redwood City company has developed a toaster oven-sized prototype machine that creates the drinks from the molecules that comprise them, according to a news release.

The startup sees its technology as a way of reducing the environmental cost of bottled drinks.

"The food and beverage industry needs to be reimagined so that the world can escape carbon-intensive, trash-generating, 20th century centralized systems of production," Cana CEO Matt Mahar said in the press release. "Our vision at Cana is to make the global beverage industry sustainable with molecular printers in every home, so people can get any drink they want, anytime they want – without torching the planet."

The startup now has $30 million to pursue that vision. The money came in a seed round Monday from The Production Board, a San Francisco-based startup foundry that invests in food and agriculture companies and incubated Cana.

Here's more on Cana's new round and other seed funding news from the last week:

Cana Technology Inc., Redwood City, $30 million: The Production Board led the funding for this developer of a beverage printing technology.

Arc Technologies Inc., Menlo Park, $11 million: NFX led the round for this financial services provider. Y Combinator, Bain Capital Ventures, Clocktower Technology Ventures, Torch Capital, Dreamers VC, Soma Capital and Alumni Ventures also participated.

Polar Security Inc., San Jose, $8.5 million: Glilot Capital Partners led the round for this provider of cloud-based data security software. IBI Tech Fund, Cloud Security Alliance CEO Jim Reavis and former RSA Chief Technology Officer Tim Belcher also invested.

ArmorCode Inc., Palo Alto, $8 million: Cervin Ventures led the round for this developer of application security software. Sierra Ventures and Tau Ventures also invested.

CodeSee Inc., San Francisco, $7 million: Wellington Access Ventures and Plexo Capital led the round for this provider of a service that allows developers to better analyze software code. Former Heroku CEO Adam Gross and Window Snyder, the former chief security officer of Square, also participated.

Vartana Inc., San Francisco, $7 million: Audacious Ventures led the round for this provider of online checkout software for businesses.

Coalesce Automation Inc., San Francisco, $5.9 million: 11.2 Capital and GreatPoint Ventures led the round for this developer of data management software.

Fathom Inc., San Francisco, $4.7 million: Maven Ventures, Character, Active Capital, Global Founders Capital, Rackhouse.vc, Soma Capital and Zoom Video Communications invested in this developer of a note-taking app for the Zoom calling service.

dNovo Inc., San Jose, $2.7 million: Y Combinator, Felicis Ventures, Soma Capital and Yintai Investment invested in this developer of a stem cell-based hair loss treatment.


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