In Israel, cultivated milk protein firm Remilk has raised $120 million in an oversubscribed Series B funding. Founded in 2019, Remilk uses fermentation to manufacture proteins identical to those in dairy products but with 1% of the land requirement and 96% fewer greenhouse gas emissions.
“It is essential for the future of our planet that we liberate the food chain from dependency on animals. We do so by crafting real dairy that tastes and feels the same, minus the cow,” says Aviv Wolff, CEO and co-founder of Remilk, in a press statement. “Our mission is bold, and support from these experienced and trusted investors demonstrates the power of Remilk to meet the moment. This funding propels us on our journey to transform the dairy category into one that delivers delicious, nutritious products without harm to people, planet, or animals.”
The funding was led by Hanaco Ventures. Precision Capital, Rage Capital, and CPT Capital were among the other participants.