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Imagindairy closes its seed round, reaching a total of US$28m in investment
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Friday, 20 May, 2022, 15 : 00 PM [IST]
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FoodTech startup Imagindairy, Ltd, developer of animal-free milk proteins, secured an additional US$15M in its extended seed-round. The initial round in November 2021 brought in US$13M. This brings the total investment capital to US$28M, making it one of the highest-earning seed rounds in the alternative protein space.
The funding 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, demonstrating a robust commitment to the company’s future progress.
In its mission to provide consumers sustainable, better-for-you, and guilt-free dairy solutions, the alt-protein innovators found a way to create animal-free milk proteins from microorganisms via proprietary precision fermentation technology.
The company’s dairy proteins are non-GMO, cholesterol-free, and possess the same flavour, texture, functionality, and nutritional value of the cow-based counterparts. Most importantly, they eliminate the burden that livestock imposes on the environment.
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