Imagindairy, Ltd, a foodtech business that develops animal-free milk proteins, has raised an extra $15 million in its extended seed round. The first round, which took place in November 2021, raised US$13 million. This raises the total investment capital to US$28 million, making it one of the most profitable seed rounds in the alternative protein industry.
Target Global led the round, which was supported by current investors Strauss Group, Emerald Technology Ventures, Green Circle Foodtech Ventures, Collaborative Fund, New Climate Ventures, and FoodSparks by PeakBridge, indicating a strong commitment to the company’s future success.
The alt-protein pioneers used unique precision fermentation technology to manufacture animal-free milk proteins from microorganisms as part of their objective to give consumers with sustainable, better-for-you, and guilt-free dairy products.
Non-GMO and cholesterol-free, the company’s dairy proteins have the same flavour, texture, functioning, and nutritional value as their cow-based counterparts. Most importantly, they eliminate the environmental impact that cattle has.