DECATUR, ARK. – Cooks Venture, a poultry company specializing in heirloom birds and regenerative agriculture, announced on Feb. 8 that it received $50 million in funding from technology company PIUS.
Cooks stated that the PIUS investment helped underwrite its intellectual property, primarily the company’s proprietary broiler breed, which will expand the genetics program and build out infrastructure.
“In working with PIUS and utilizing its IP-backed financing facility, Cooks Venture has the opportunity to become the leading slow-growing broiler breeder globally and the most compelling and competitive poultry genetics company,” said Matthew Wadiak, chief executive officer and founder of Cooks Venture. “The $50 million in funding will support Cooks Venture in dramatically increasing our genetics assets and strategic implementation, a culmination of 12 years of research and development, thus improving animal welfare and supplying more nutritious and flavorful chicken, the most consumed meat in the US and the world.”
Cooks said its proprietary pedigree line, the Pioneer, is selectively bred to grow slower chickens with stronger immune systems. The company also said it prioritizes nutritional quality and flavor, resulting in broiler chickens with better gut health.
A recent broiler study by the University of Guelph, found that Cook Venture’s Pioneer broiler line and parent stock met the new Global Animal Partnership (GAP) animal welfare standards. The Cooks Venture product also falls under the Better Chicken Commitment.
Cooks stated that its Pioneer line is the only approved breed with no affiliation to two genetics conglomerates that make up more than 99% of the US market.
“In PIUS’ extensive evaluation of Cooks Venture, it’s clear the company’s IP is only rivaled by its potential for long-term sustainable impact,” said Joe Agiato, chief executive officer of PIUS. “With more than a decade of research behind the Pioneer breed, Cooks Venture proves the food we eat can – and should – nourish our bodies as well as the planet. The PIUS team is privileged to play a role in the next phase of Cooks Venture’s growth, and we are all eager to see how they will revolutionize the poultry industry.”
PIUS provides a proprietary insurance product for growth-stage technology companies. Based on the evaluation of a company’s intellectual property, PIUS can help secure financing options without dilution by insuring the debt’s value. Through PIUS’ Clip Notes program, PIUS provides the insurance, brings the capital source via institutional investors, and monitors the transaction, providing a complete solution.