TEL AVIV, Israel--(BUSINESS WIRE)--Remilk, an Israel-based start-up producing identical dairy products through microbial fermentation, today announced the completion of its $11.3 million funding round. With this new capital, the company plans to rapidly expand its production and distribution capabilities, and meet global demand, for its revolutionary animal-free dairy products.
The latest funding was led by fresh.fund with participation from OurCrowd, CPT Capital, ProVeg and food manufacturers Hochland, Tnuva and Tempo, as well as Co-founder & Former Managing Director of Berkshire Partners, Bradley Bloom; prominent investor, Sake Bosch; serial technology entrepreneur and investor, Amiad Solomon; food-tech investor Beni Nofech and others.
“Today’s non-dairy alternatives address environmental and health concerns, but universally fail to create authentic dairy-based products, like cheese. We’re bridging this gap by making dairy products with dairy proteins, without needing a single cow,” said Aviv Wolff, Co-Founder & CEO at Remilk. “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.”
Remilk’s first-of-its-kind, lab-made dairy product is indistinguishable from natural dairy and is essential for developing the authentic taste and texture of dairy derivatives like cheese, yogurt and cream, without cows. The company uses a unique, patented process to replicate the properties of the dairy proteins. This process recreates these proteins in the most effective way, and even optimizes functionalities compared to their animal-derived equivalent.
Remilk’s commercial manufacturing and distribution partners use its functional animal-free dairy as a starting material for large-scale dairy production.
“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,” added Wolff.
Remilk products are cholesterol-free and contain no lactose, antibiotics or growth hormones. Importantly, Remilk is far more sustainable and eco-friendlier than traditional dairy systems, requiring 1% of the land, 4% of the feedstock and 10% of the water to produce than comparable dairy products.
- 91% of rainforest areas cut down each year to create space for raising cattle
- Traditional dairy requires more than 1,000 liters of water to produce only one liter of milk
- Animal agriculture causes approximately 14.5-18% of greenhouse gas emissions – more than the entire global automotive industry
- More than 35% of the general population is actively trying to eat animal-free options
Hochland CFO: "In fermented proteins we see an interesting opportunity to develop innovative and sustainable products. Remilk is the ideal partner for Hochland to jointly develop this new raw material base."
fresh.fund Managing Partner: "Protein alternatives to meat and dairy are gaining global traction with both consumers and producers taking notice of the environmental, health-related and efficiency benefits they present. We see significant market potential for Remilk’s unique technologies across categories."
Remilk is a global leader in the development of animal-free dairy. The company produces identical dairy proteins through microbial fermentation, and has developed a unique and patented approach to lab-based dairy manufacturing which dramatically increases efficiency in production, and, for the first time in history, allows to cost-efficiently replace dairy cows in industrial-scale dairy protein production, without compromising on taste, functionality, or nutritional values.
For more information, please visit https://www.remilk.com/