Israeli animal-free dairy company Remilk has announced the completion of a $11.3 million financing round led by fresh.fund with participation from CPT Capital, OurCrowd, ProVeg and food manufacturers Hochland, Tnuva and Tempo, as well as investors Bradley Bloom, Sake Bosch, Amiad Solomon, Beni Nofech and others.
Remilk manufactures products identical to their dairy equivalents through microbial fermentation. The company plans use the new funds to expand its production and distribution capabilities, and meet global demand, for its animal-free dairy products.
Remilk cofounder and CEO Aviv Wolff said, "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. 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 says that its 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.
fresh.fund managing partner Zaki Djemal said, "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 and we’re thrilled to have been the company’s first investors."
Published by Globes, Israel business news - en.globes.co.il - on December 10, 2020
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