4th November 2021 Editorial by: newprotein staff writer
BIOMILQ Secures $21m Funding to Launch Its Cultivated Breast Milk in the Next 4 Years
If the future of dairy is animal-free, the future of breast milk is human-free.
BIOMILQ, a start-up engineering cell-cultured breast milk, secured $21M in Series A financing. With this new funding, the company will accelerate the launch of its first product, expected in the next 4 years.
Leading funders were life science investor Novo Holdings, clean tech investor Breakthrough Energy Ventures (founded by Bill Gates), with the additional support of six other VC firms.
“We are delighted to support BIOMILQ through their journey pioneering mammary biotechnology,” said Kartik Dharmadhikari, Partner of Novo Growth, one of the investment areas of Danish holding and investment company Novo Holdings. “We aim to use our scientific knowledge, operational expertise and global network to further strengthen the company’s mission of improving lives.”
For the women-led start-up, however, the funding process is not just about being selected by backers that believe in its idea and values. BIOMILQ in turn only accepts to work with partners in line with its own set of core values: having female leadership within their fund, at least 10% of its portfolio having female or diverse founders and having an internal mandate for positive impact in the world.
“While we’re thrilled to announce an oversubscribed series A, we’re more excited about the value beyond capital being added around the table from our new investors.” said Michelle Egger, CEO and co-founder of BIOMILQ. “Each partner brings technical expertise, passion for human and planetary health, and belief in female founded ventures.”
BIOMILQ’s mission, as explained on the company’s website, is threefold: nourishing healthier babies, empowering parents through choice, and contributing to a healthier planet.
“Michelle and I founded BIOMILQ on clear beliefs. Thoughtful planning and relationship building was required to find a commonality of mission among our partners,” said CSO and co-founder Leila Strickland. “While we narrowed the aperture of possible partners, we’ve already seen the ripples of demanding a more representative world of venture capital.”
To learn more about BIOMILQ visit their website biomilq.com or get in touch using the form below.
Date Published: 4th November 2021
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