In Israel, a startup working to produce dairy products using microbial fermentation has raised $11.3 million in a Series A found. Based in Tel Aviv, Remilk uses microbes to make dairy proteins to enable the production of milk, cheese, yoghurt, and cream without cows. The company plans on using the funds to expand production and distribution.
“Relying on animals to make our food is no longer sustainable. This model of food production has all but reached its limits in terms of scale, reach and efficiency, and the implications are devastating for our planet. Remilk is revolutionizing the way we produce food around the world, and importantly, is creating a lasting and environmentally-friendly food system that takes no more than what our planet can give,” said Aviv Wolff, Co-Founder & CEO at Remilk said in a press statement. “Our proprietary technology delivers the most authentic animal-free dairy product in the market today and is identical to natural dairy. With our new partnerships for production and distribution, we’ll soon be ready to reinvent this multibillion-dollar industry.”
The financing was led by fresh.fund. CPT Capital, ourCrowd, ProVeg, Hochland, Tnuva and Tempo also participated, as did Bradley Bloom, co-founder & Former Managing Director of Berkshire Partners; prominent investor Sake Bosch; serial technology entrepreneur and investor Amiad Solomon; and food-tech investor Beni Nofech.