The agency stated that it plans to partner with the New Hampshire Community Loan Fund to make $123 million in grants available through the Meat and Poultry Processing Expansion Program (MPPEP).
The agency said it would fund more than $12 million to expand independent processing capacity in Ohio, Michigan and Minnesota using an expansion program grant.
Leading the Series A funding round was Unovis, an early backer of Oatly and Beyond Meat, with participation from Bessemer Venture Partners, AgFunder and KBW Ventures.