Cleveland Avenue

Cleveland Avenue is a venture capital investment firm established in 2015 and based in Chicago, Illinois. The firm specializes in investing in a range of sectors, including food and beverage companies, lifestyle consumer brands, agricultural technology, and technology firms. As a registered investment adviser, Cleveland Avenue focuses on seed-stage, early-stage, later-stage, and growth-stage opportunities, aiming to support innovative companies that align with its strategic interests.

Matthew Wellington Burns

Senior Associate, Investments

Fernando Carranza

Venture Investor

Harry Coaxum

Managing Partner, Operations

Walker Cullinan

Analyst

Ellen Federbush

Project Manager, Office of the CEO

Keith Kravcik

Chief Investment Officer

Mingu Lee

Managing Partner, Technology Investments

Randall Lewis

Managing Partner, Agri-Tech Investments

Jason Mercer

Principal

Fabian Gosselin

Investor

Veronica Pierce

Director of Strategic Partnerships

Don Thompson

Co-Founder and CEO

Ryan Tlusty

CFO

Robert Wietecki

Senior Associate, Investments

Taylor Williams

Venture Investor

Past deals in Food Processing

Intelligent Growth Solutions

Series C in 2024
Intelligent Growth Solutions Ltd is a company that specializes in developing and providing advanced vertical farming technology for indoor food production. Founded in 2013 and based in Dundee, United Kingdom, the company offers a plug-and-play solution that includes an indoor vertical farming demonstration facility. This facility features an Internet of Things (IoT)-enabled power and communications platform, incorporating patented electrical, electronic, and mechanical technologies. Intelligent Growth Solutions is committed to creating optimal growing environments for plants and enhancing user experience through continuous innovation and effective design.

Iya Foods

Seed Round in 2023
Iya Foods is an African-inspired food business dedicated to providing authentic and nutritious culinary products. The company offers a diverse range of items, including spices, seasonings, savory simmer sauces, gluten-free flours, and dried hibiscus flowers and petals. Committed to delivering exceptional flavor and nourishment, Iya Foods ensures that all its products are free from MSG, gluten, preservatives, and other harmful artificial ingredients. This focus on quality and sustainability enables customers to enjoy wholesome foods while embracing the rich culinary traditions of Africa.

Intelligent Growth Solutions

Series B in 2023
Intelligent Growth Solutions Ltd is a company that specializes in developing and providing advanced vertical farming technology for indoor food production. Founded in 2013 and based in Dundee, United Kingdom, the company offers a plug-and-play solution that includes an indoor vertical farming demonstration facility. This facility features an Internet of Things (IoT)-enabled power and communications platform, incorporating patented electrical, electronic, and mechanical technologies. Intelligent Growth Solutions is committed to creating optimal growing environments for plants and enhancing user experience through continuous innovation and effective design.

Evigence Sensors

Series B in 2023
Evigence Sensors is a company that specializes in manufacturing sensors designed to monitor the shelf life of perishable products. The company offers a Freshness Management System that integrates sensors and data analytics to enable food brands, retailers, and foodservice providers to assess and manage food freshness in real time throughout the supply chain. Their food storage trackers monitor the storage time and conditions of food, while the SMART DOT application allows users to scan the sensors for tracking remaining shelf life and connect with sellers. Founded in 2004 and originally known as Freshpoint Quality Assurance Ltd, Evigence Sensors changed its name in February 2019. The company is based in Yokne’am, Israel, with a commercial office in Hoboken, New Jersey. It holds 25 granted patents and is recognized as one of only two companies globally that meet the strict World Health Organization standards for vaccine vial monitoring. Initially focused on healthcare, Evigence shifted its technology towards the monitoring and management of fresh foods in 2016.

Sustainable Beverage Technologies

Series C in 2022
Sustainable Beverage Technologies Inc. is a Colorado-based company specializing in the production of beer and soda concentrates. The company utilizes its patented BrewVo brewing process to create carbonated beverages and wine products, which can be easily mixed with water and carbon dioxide for convenient consumption. This innovative approach is particularly designed for hikers and adventurers, allowing them to enjoy flavorful beer while on the go. Founded in 2010, Sustainable Beverage Technologies, previously known as Pat's Backcountry Beverages, also operates an online store selling branded merchandise such as water bottles, hats, and apparel. The company is committed to enhancing efficiencies in brewing and distribution, positioning itself as a unique player in the beverage industry.

PreciTaste

Series A in 2022
PreciTaste is a pioneering company specializing in artificial intelligence kitchen management software aimed at enhancing operations in the foodservice industry. With over 2,500 AI systems deployed, PreciTaste leverages proprietary technologies such as deep tech and vision sensing to guide kitchen crews in preparing, planning, and cooking food in precise quantities based on predicted demand. The company's products include plug-and-play software assistants that manage key operations like food preparation and order fulfillment, as well as self-management solutions that use computer vision to automate cooking processes and ensure order accuracy. With a decade of experience in food AI applications and a team of over 80 engineers, PreciTaste addresses significant labor and food challenges across seven foodservice categories. Its market-ready solutions are designed to improve productivity and profitability for customers, particularly in quick service restaurants and commercial baking, by streamlining workloads and reducing food waste through automation.

Nuritas

Series B in 2021
Nuritas Ltd., established in 2012 and headquartered in Dublin, Ireland, is a biotechnology company specializing in the discovery of bioactive peptides from food sources using artificial intelligence and genomics. The company's proprietary platform combines computational biology with nutritional science to identify and extract health-benefiting components hidden within food, enabling it to create functional foods and cosmetics. Nuritas collaborates with industry partners to co-develop new ingredients, with applications in human and animal nutrition, beverages, dietary supplements, and cosmetics.

Intelligent Growth Solutions

Series B in 2021
Intelligent Growth Solutions Ltd is a company that specializes in developing and providing advanced vertical farming technology for indoor food production. Founded in 2013 and based in Dundee, United Kingdom, the company offers a plug-and-play solution that includes an indoor vertical farming demonstration facility. This facility features an Internet of Things (IoT)-enabled power and communications platform, incorporating patented electrical, electronic, and mechanical technologies. Intelligent Growth Solutions is committed to creating optimal growing environments for plants and enhancing user experience through continuous innovation and effective design.

Sustainable Beverage Technologies

Venture Round in 2021
Sustainable Beverage Technologies Inc. is a Colorado-based company specializing in the production of beer and soda concentrates. The company utilizes its patented BrewVo brewing process to create carbonated beverages and wine products, which can be easily mixed with water and carbon dioxide for convenient consumption. This innovative approach is particularly designed for hikers and adventurers, allowing them to enjoy flavorful beer while on the go. Founded in 2010, Sustainable Beverage Technologies, previously known as Pat's Backcountry Beverages, also operates an online store selling branded merchandise such as water bottles, hats, and apparel. The company is committed to enhancing efficiencies in brewing and distribution, positioning itself as a unique player in the beverage industry.

Sustainable Beverage Technologies

Venture Round in 2020
Sustainable Beverage Technologies Inc. is a Colorado-based company specializing in the production of beer and soda concentrates. The company utilizes its patented BrewVo brewing process to create carbonated beverages and wine products, which can be easily mixed with water and carbon dioxide for convenient consumption. This innovative approach is particularly designed for hikers and adventurers, allowing them to enjoy flavorful beer while on the go. Founded in 2010, Sustainable Beverage Technologies, previously known as Pat's Backcountry Beverages, also operates an online store selling branded merchandise such as water bottles, hats, and apparel. The company is committed to enhancing efficiencies in brewing and distribution, positioning itself as a unique player in the beverage industry.

Footprint

Series A in 2018
Footprint LLC is a materials science technology company based in Gilbert, Arizona, that specializes in environmentally friendly packaging solutions. Founded in 2014 by former Intel engineers Troy Swope and Yoke Chung, the company focuses on eliminating single-use and short-term-use plastics in the food supply chain. Footprint designs, develops, and manufactures biodegradable, compostable, and recyclable plant-based fiber materials that not only match but exceed the performance of traditional plastics while being safe for the environment. The company's offerings include bio-based plastics and molded fiber packaging products. Over the years, Footprint has gained recognition for its innovative approach, being named to the Fortune "Change the World" list and recognized as a CNBC Disruptor 50 company. With operations in the U.S., Mexico, Europe, and Asia, Footprint is committed to meeting the growing demand for sustainable packaging solutions driven by regulatory changes and consumer preferences.

Sustainable Beverage Technologies

Series A in 2018
Sustainable Beverage Technologies Inc. is a Colorado-based company specializing in the production of beer and soda concentrates. The company utilizes its patented BrewVo brewing process to create carbonated beverages and wine products, which can be easily mixed with water and carbon dioxide for convenient consumption. This innovative approach is particularly designed for hikers and adventurers, allowing them to enjoy flavorful beer while on the go. Founded in 2010, Sustainable Beverage Technologies, previously known as Pat's Backcountry Beverages, also operates an online store selling branded merchandise such as water bottles, hats, and apparel. The company is committed to enhancing efficiencies in brewing and distribution, positioning itself as a unique player in the beverage industry.
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