The oversubscribed round was led by Hanaco Ventures and includes investments from Precision Capital, Rage Capital, CPT Capital, Intercap, OurCrowd, Aliya Capital, Chartered Group, Indorama Ventures, Tal Ventures, Fresh Fund, Idan and Gil Ofer, Izaki Ventures, and Paradigm Shift Fund.
The company is using its new cash injection to accelerate its manufacturing capabilities and commercialize Remilk’s milk proteins at scale targeting major food and beverage manufactures, said co-founder Aviv Wolff.
“We’re here to build the largest dairy company in the world. We’re not interested in building a premium niche product just for vegans. Our dream is to transform the entire industry and provide quality dairy for all consumers, everywhere. We want to reintroduce people to a better, kinder version of the products they already know and love. This funding round will set the wheels in motion towards making this happen,” Wolff told FoodNavigator-USA.
Remilk’s animal-free milk protein technology also directly addresses a growing population of dairy avoiders who are looking for options beyond plant-based dairy.
“Unlike plant-based alternatives which can fall short in flavor, texture, nutrition, or sustainability, Remilk seamlessly replaces milk-based ingredients because it has the same characteristics, nutrition and flavor profile, ability to melt, stretch and blend as animal milk proteins,” said Wolff.
“It’s great news not just for us, but for the dairy industry and consumers who avoid, or would like to avoid, animal derived dairy products. Great news for our planet, too, as our process is significantly more sustainable than that of traditional dairy. And fabulous news for cows worldwide!”