Aseptia has secured $28 million in its third funding round. Lookout Capital, Prudential, FB Heron Foundation, and SJF Ventures contributed to the financing, according to VentureBeat.

The food tech firm will use the capital infusion for the growth and expansion of its Troy-based subsidiary Wright Foods, the report added.

Lookout Capital founder Merrette Moore said of the deal: "We are grateful for the opportunity to invest in Aseptia and look forward to working with the company's team. We believe the company's technology and process have revolutionary implications for the food industry."

According to PR Newswire, Aseptia has developed patented technology that maintains the freshness of food outside the refrigerator and without preservatives. The process gives food products a shelf life that lasts up to 12 months. This technology helps consumers save a lot on energy costs and packaging, the report detailed.

Wright Foods is a producer of various food products such as fruit sauces, vegetables, and beverages. The firm was established in August 2012, according to a press release.