Ontario Teachers’ investing in online education platform, plant-based food development company

Founded in 2015, the Kitchener, Ont.-based education company is now valued at $4 billion. It had previously raised $225 million through various earlier funding rounds. In a press release, Martin Basiri, co-founder and chief executive officer of Applyboard, said interest in the company’s offerings has intensified as a result of the global coronavirus pandemic.

In the release, Olivia Steedman, senior managing director of the Teachers’ Innovation Platform, said the company’s focus on education made it a logical target for the pension fund’s investment dollars. “ApplyBoard’s technology platform is simplifying the process of connecting students and educational institutions and creating greater opportunities for education globally.”

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The Ontario Teachers’ was also part of a series B funding round that raised $226 million for Motif Foodworks Inc.

The Boston-based Motif is a food development company that’s working to create convincing plant-based alternatives to meat and dairy. This capital injection has been earmarked to accelerate Motif’s plans to bring plant-based foods to market. The company also plans to use some of the funds to increase its research and development capabilities and expand workforce and facilities.

“Making plant-based foods taste great will increase the global appetite for this sector — and shape a better future for our planet in the process,” said Steedman, in a separate press release. “As people increasingly look to meat and dairy alternatives, Motif offers breakthrough solutions powered by leading technology, deep scientific expertise and a visionary management team.”

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