Israel FoodTech startup Imagindairy raises $15M in extended seed round to bring animal-free milk proteins to consumers
The growing concerns about climate change and carbon emissions have given rise to an animal-free dairy revolution. This has caused also consumers to shift to climate-friendly, plant-based meats and dairy instead of the traditional ones made from animals.
According to some research, animal-free dairy is estimated to produce around 85-97% fewer greenhouse gas emissions compared to conventional dairy, while eliminating the cruelty associated with animal agriculture altogether. One startup at the forefront of this revolution is Imagindairy, a Tel Aviv, Israel-based food-tech startup that is milking new technology and completely leaving the cow out of the dairy equation.
We covered Imagindairy late last year after the company raised a $13 million seed round to “milk” new technology and provide animal-free dairy with no cows. Since then, Imagindairy has received attention from investors and raised new funding.
Today, Imagindairy announced it has secured an additional USD15M in its extended seed round to support its mission to provide consumers sustainable, better-for-you, guilt-free dairy solutions. The round was led by Target Global and joined by the company’s existing investors Strauss Group, Emerald Technology Ventures, Green Circle Foodtech Ventures, Collaborative Fund, New Climate Ventures, and FoodSparks by PeakBridge.
The round, which brings the total investment capital to $28 million, demonstrates investors’ confidence in the company’s direction and a robust commitment to its future progress. The round also makes Imagindairy one of the highest-earning seed rounds in the alternative protein space.
With natural precision fermentation, Imagindairy creates true milk proteins that are indistinguishable from the real thing. Imagindairy’s proprietary technology, based on systems and synthetic biology platform, allows manufacturers to offer cow-free, sustainable milk, and dairy products with all the nutritional values of dairy milk.
Imagindairy’s technology is based on 15 years of research led by its co-founder and CSO, Tamir Tuller, Ph.D., a professor at Tel Aviv University. The company’s mission was to create a commercially viable, guilt-free experience of traditional dairy products consumers crave. The company will invest the funds in expanding its facilities, increasing its professional team, and boosting its R&D capacity to meet the demands of its partners.
Imagindairy’s proprietary platform significantly amplifies protein expression, enabling exceptionally cost-effective production of animal-free milk proteins. This overcomes one of the biggest hurdles in alt-dairy protein production, allowing brands to sell analog dairy products at consumer-friendly prices—a major requirement for mass-market adoption.
“This extremely successful seed round reflects a strong vote of confidence in Imagindairy and its vision to lead the animal-free dairy industry,” enthuses Eyal Afergan, Co-Founder and CEO of Imagindairy. “This substantial injection of capital will serve to advance our ability to make true dairy alternative products a day-to-day reality.”
The funds raised in this seed round will be used to accelerate the company’s R&D efforts to launch a range of real dairy products without using animals. It also will help attract additional talent to its expanding workforce. Imagindairy is currently in dialogue with major dairy food producers seeking to diversify their product portfolios.
“It is exciting to cooperate with such an ambitious and creative company like Imagindairy in pioneering the new generation of dairy products,” adds Jonathan Berger, CEO of The Kitchen FoodTech Hub. “Imagindairy’s technology has the potential to be a pivotal catalyst for radically advancing the field of precision fermentation, making animal-free dairy products accessible and readily available to all.”