+NUTRI Co, the Peruvian foodtech founded by Carlos Noceda and Daniel Nuñez dedicated to the creation of healthy foods with artificial intelligence, was acquired by Terraflos Inc., the Uruguay-based multinational specialized in the development of bioactives and functional products.
The operation, worth eight figures in dollars, is among the most significant M&A movements of a Peruvian startup in the last decade. Terraflos acquired a majority stake, although both co-founders will remain leading the company.
The relationship between both companies is not new: in July 2024, Terraflos had already invested US$2 million in +NUTRI Co and acquired an initial shareholding. The depth of that alliance was decisive for the closure. “They knew us inside out since they invested in 2023, they bet at an earlier stage, they saw how we operate and they share the same vision of bringing science, technology and nature to mass consumption in the region,” said Carlos Noceda.
A proprietary technology that conquered the gondolas
+NUTRI Co developed its own artificial intelligence system called “Virgilio IA”, in honor of the Peruvian chef Virgilio Martínez, which optimizes the formulation of functional food products. Today it has more than 30 million products sold, more than 50 SKUs in 7 categories and operations in Peru, Chile and Mexico. By 2026, the company plans to grow its turnover by 50% compared to the previous year.
“We sold the company in an eight-figure transaction and decided to continue as shareholders and leading the company to take the vision to the next level. That was the spirit of the deal from day one,” said Carlos Noceda.
Regional expansion and a new line of business
As part of the acquisition, +NUTRI Co will launch +NUTRI Co Functional, a new line of products that will incorporate the bioactives and biotechnological capabilities of the Terraflos ecosystem in mass consumption formats, without the need for pills or complex supplements. In parallel, the operation will allow it to accelerate its expansion in Argentina, Colombia and Uruguay, where Terraflos already has a presence, commercial networks and production capacity.
“We believe that the best years of +NUTRI Co come now, as part of a group that shares our vision of using technology, science and nature to improve the health of millions of people in the region,” concluded Daniel Nuñez, co-founder and CFO of the company.
