This Series A funding round accelerates Modern Baker’s six-year mission to challenge the narrative around ultra-processed food that if done right, UPFs can be good for you.
Writing in an exclusive column earlier this year, Campbell told Food Manufacture that the polarised debate of UPFs “overlooks the most important question: What if the problem isn’t the processing itself, but what and how we process?”
The company is taking on this challenge through the development of nutrient-dense food that doesn’t compromise on taste or convenience, or require changes to current manufacturing processes.
Modern Baker’s first product, Superloaf, manufactured by Hovis has been described as “the world’s first healthy UPF” by Food Manufacture’s sister title The Grocer. It was inspired by co-founder Melissa Sharp’s experience in a chemo ward where she was shocked by the unhealthy food options given to patients.
Containing selected prebiotic fibres and bioactive plant compounds that have been subjected to targeted fermentation, the bread has been found to reduce blood glucose absorption and promote gut health. Following this proof-of-concept, the business is now looking to transform other staples. It is now stocked in M&S, Sainsbury’s and Ocado.
“This is about fixing UPFs, not fighting them. The real enemy isn’t processing or additives – it’s nutrient poverty. We’re proving UPFs can be actively healthy, if done right,” Sharp said.
“Adjuvo’s backing brings not only capital, but also a strategic network with deep influence across retail, food, and consumer tech sectors,” added co-founder Leo Campbell.
“The idea of a ‘healthy UPF’ may sound audacious – but it’s the only credible solution to the trillion-pound cost of poor diet. And we have living proof in Superloaf and its lab-validated data. This is transformative – for public health, and for UK PLC as a new global hub of health innovation.”
Modern Baker doesn’t operate like a traditional food company. Its capital-light, SaaS-style model lets manufacturers upgrade everyday brands. With strong IP and recurring revenues, it’s built for scale – and for the kind of upstream impact the NHS and wider food system urgently need.
“Our model is to work with the food industry, not against it,” explained Campbell.
“While others attack UPFs from the outside, we’re building the fix from within – staying lean and agile, while our partners scale globally.”
Hovis is the first licensee, with the wider pipeline targeting biscuits, sweet bakery, breakfast cereals, ready meals and beverages.
“With global food players and public health bodies now talking to us, the Series A will accelerate our commercial rollout and deepen the scientific case. But this is bigger than one product or company. The UK government is actively seeking progressive solutions for population health – alongside innovation-led economic growth. Nutrient density delivers both. It’s a scalable fix for the food system – and a serious opportunity for UK PLC,” Campbell concluded.
