Imagindairy scores new investment from Israeli investor MoreVC as it ramps up work with dairy producers 
Imagindairy
Imagindairy’s technology has developed animal-free milk proteins

Dairy precision fermentation start-up Imagindairy has completed a $13 million Seed round led by Israeli investor MoreVC. 

The round included $1.5 million Imagindairy raised in Pre-seed funding back in June via Israeli food giant Strauss Group, and VCs PeakBridge, CPT Capital and Entree Capital. 

The start-up develops milk proteins like whey via synthetic biology processes. The technology used was built by co-founder Tamir Tuller PhD, a professor at Tel Aviv University. 

In an interview with NutritionInvestor in June, Imagindairy CEO Eyal Afergan said the company was preparing to launch its first B2B product and was investing heavily in R&D. 

The start-up is eyeing the US for its first product launch, with the EU to follow. 

“We are increasing the team’s size and we are looking to get into more meat proteins. Of course, the most important thing for us is time to market for our first product,” Afergan said at the time. 

“Imagindairy’s innovative technology allows dairy companies to develop new products or reformulate existing products, without involving animals and with a dramatic reduction in carbon-footprint,” MoreVC partner Glen Schwaber said. 

“They have the technology to produce the dairy products of the future that consumers want today. We are incredibly impressed with the expert team and their strong R&D and scale-up capabilities—we’re proud to lead this investment round,” he said. 

Date published: 17 November 2021

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