Israeli start-up Remilk, which produces animal-free dairy products via microbial fermentation, has generated $11.3 million in funding to launch the company, the company anounced in a press release on Friday.
The funding will be used to expand production and distribution of the product in order to meet increasing global demand. Financial support was secured in participation with CPT Capital, OurCrowd, ProVeg and food manufacturers Hochland, Tnuva and Tempo, along with numerous other companies.
“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,” Wolff added.
Remilk creates its product in a lab via process which replicates the properties of the dairy proteins, and is said to be indistinguishable from natural dairy in terms of taste and texture. In addition, it can also be used to make cheese, yogurt and cream.
“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,” Wolff noted.
The company claims that Remilk is also healthier than traditional milk, since it contains no cholesterol, antibiotics, or growth hormones. They also claim that Remilk is more sustainable and eco-friendly than traditional dairy.
"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," said fresh.fund's Managing Partner, Zaki Djemal, on the leaders of the funding round.