View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
January 6, 2022updated 21 Jan 2022 1:59pm

Animal-free dairy start-up Remilk secures new funding

Remilk raised $11.3m in a previous funding round in 2020.

Remilk, an alternative-dairy start-up in Israel, has raised new funds through a Series B round led by investor Hanaco Ventures.

Free Whitepaper
img

Disruptive start-ups to watch out for

2021 was a record-breaking year, with more businesses breaking into the billion-dollar club. Many start-ups have achieved or retained the unicorn status by the end of the year to reflect nearly a fivefold growth from that in 2020. This boom can be linked to a financing frenzy spurred by the quick adoption of technology and innovative solutions by start-ups gaining traction in response to the pandemic. However, the start-up ecosystem is now facing turbulent times for fundraising as investors seek long-term business strategies, valuations, and a route to profitability amid uncertain market circumstances. Nevertheless, 2022 has the potential to carry forward the momentum with multiple entities having a fair chance of being in the right place when aided by the right technologies. GlobalData leverages the power of alternative data to examine the health of start-ups across multiple dimensions including the quality of their innovations, market presence, and the funding they can attract. This helps our clients to analyze the disruptive potential of start-ups for early alliances, investments, and acquisition prospects to develop future-proof strategic roadmaps for a competitive advantage. Read our report and gather insights on the following topics:
  • Recent Unicorn trends
  • Unicorns in 2022
  • Future Unicorns
  • Start-ups to watch out for
Start-up ecosystem outlook by top geographies
by GlobalData
Enter your details here to receive your free Whitepaper.

The Times of Israel reported Remilk has secured US$120m from an investor consortium, including Hanaco, which has offices in Tel Aviv and New York.

Venture-capital firm Hanaco Ventures said on a LinkedIn the financing will support the Remilk’s “mission to disrupt the traditional dairy industry for the better, displacing the current unsustainable modes of production”.

Founded in 2019 by CEO Aviv Wolff and CTO Ori Cohavi, Remilk uses microbial fermentation to produce dairy proteins without animals.

In a statement announcing an $11.3m funding round in December 2020, Tel Aviv-based Remilk said it “uses a unique, patented process to replicate the properties of the dairy proteins. This process recreates these proteins in the most effective way, and even optimises functionalities compared to their animal-derived equivalent”.

It added: “Remilk’s first-of-its-kind, lab-made dairy product is indistinguishable from natural dairy and is essential for developing the authentic taste and texture of dairy derivatives like cheese, yogurt and cream, without cows.”

Remilk did not respond to repeated requests from Just Food to confirm the latest financing.

The Times of Israel said other investors included another VC firm, Rage Capital in New York, and London-based CPT Capital, which, according to its website, is “the venture arm of a leading private family office”.

The line-up also featured Precision Capital in New York, along with investors in the previous round: Israeli dairy company Tnuva, German cheese producer Hochland, local venture fund fresh.fund and VC OurCrowd.

Just Food analysis, November 2021: “Our grandchildren won’t believe we consumed milk from cows” – what’s the outlook for animal-free dairy?

 

Related Companies

Free Whitepaper
img

Disruptive start-ups to watch out for

2021 was a record-breaking year, with more businesses breaking into the billion-dollar club. Many start-ups have achieved or retained the unicorn status by the end of the year to reflect nearly a fivefold growth from that in 2020. This boom can be linked to a financing frenzy spurred by the quick adoption of technology and innovative solutions by start-ups gaining traction in response to the pandemic. However, the start-up ecosystem is now facing turbulent times for fundraising as investors seek long-term business strategies, valuations, and a route to profitability amid uncertain market circumstances. Nevertheless, 2022 has the potential to carry forward the momentum with multiple entities having a fair chance of being in the right place when aided by the right technologies. GlobalData leverages the power of alternative data to examine the health of start-ups across multiple dimensions including the quality of their innovations, market presence, and the funding they can attract. This helps our clients to analyze the disruptive potential of start-ups for early alliances, investments, and acquisition prospects to develop future-proof strategic roadmaps for a competitive advantage. Read our report and gather insights on the following topics:
  • Recent Unicorn trends
  • Unicorns in 2022
  • Future Unicorns
  • Start-ups to watch out for
Start-up ecosystem outlook by top geographies
by GlobalData
Enter your details here to receive your free Whitepaper.

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food