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20th January 2022 Content supplied by: Remilk Ltd
Remilk™ Closer Than Ever to Scaling Animal-Free Dairy
Remilk, an innovative food start-up reimagining the dairy industry, has secured $120 million in a Series B funding round led by NY-based Hanaco Ventures. The funding will enable Remilk to scale production for commercial use by manufacturers in traditionally dairy-based products including cheeses, yogurt, and ice cream.
"It's 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," said Aviv Wolff, CEO and co-founder at Remilk.
Remilk pioneered a remarkably scalable, yeast-based fermentation process for animal-free milk proteins. The taste and properties of Remilk’s proteins are identical to those in cow milk but free of lactose, cholesterol, and growth hormones.
The patented process has a drastically reduced environmental impact; Remilk estimates it uses 1% of the land, 4% of the GHG emissions, and 5% of the water required to produce comparable products in the traditional dairy manufacturing process.
"Our mission is bold, and the 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. We are already engaging with dozens of companies, including some of world's most popular brands, to recreate the future of dairy together."
Aviv Wolff is an entrepreneur with experience at several start-ups. The other co-founder, Ori Cohavi, has a PhD in biochemistry, ans previously worked in R&D at a variety of biotech firms. They're both driven by the desire to improve life on earth by preserving nature, while learning from it.
The funding comes at a pivotal stage for a promising category. According to a Cargill study, 63% of the adult population are actively avoiding or reducing dairy consumption because of lactose intolerance or dairy sensitivity. Others are reducing consumption of saturated fat (24%,) or making choices based on environmental (15%,) or animal care concerns (20%.)
The new capital will accelerate the Company's manufacturing capabilities, unlocking its ability to commercialize Remilk at scale to meet the needs of food manufacturers. Unlike plant-based alternatives, which can fall short in flavour, texture, nutrition, or sustainability, Remilk seamlessly replaces milk-based ingredients in any product.
"Remilk is on a mission to transform the alternative protein industry by introducing the next generation of dairy. Not only are Remilk products cleaner and significantly more sustainable when compared to traditional dairy, but they are indistinguishable in taste, feel, and texture," said Pasha Romanovski, founding partner of Hanaco Ventures. "Remilk also employs production methods that are radically more sustainable than traditional production methods today. We have a strong conviction in the founders' vision and are thrilled to support the talented team on their journey."
Remilk plans to have products featuring its protein on the market later this year. If you want to learn more about the company, visit remilk.com.
Date Published: 20th January 2022
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