In San Francisco, animal-free cheesemaker Change Foods has raised $875,000 in an oversubscribed, pre-seed funding round, according to Green Queen.
The company had initially targeted $600,000. Proceeds will be used to create Change Foods’ first prototype with the look, taste, and cooking consistency of dairy-based products. The company says its alternative cheese is better than plant-based options because it uses precision fermentation to produce casein, a protein present in cow’s milk.
Change Foods founder David Bucca tells Green Queen fermentation-based production of cheese could enable more robust supply chains, with local production and longer shelf lives. The first cheese substitutes will be mozzarella and cheddar, and are expected to be available by 2023. The company aims to raise an additional $4 million in 2021.
Participants in the recent round included Twitter’s Asia-Pacific VP Maya Hari, abillionveg founder Vikas Garg, game developer Tom Crago, and existing investors Newstead and Klar.