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Food & Beverage Asia June/July 2022

Food & Beverage Asia (FBA) is the leading source of food and beverage news in Asia since 2002. FBA delivers a comprehensive view of the food and beverage landscape, spanning across the latest health and nutrition trends and industry innovations in ingredients, recipe formulations, food science, sustainability, packaging, and automation, as well as advancements in agri and food-tech.

Food & Beverage Asia (FBA) is the leading source of food and beverage news in Asia since 2002. FBA delivers a comprehensive view of the food and beverage landscape, spanning across the latest health and nutrition trends and industry innovations in ingredients, recipe formulations, food science, sustainability, packaging, and automation, as well as advancements in agri and food-tech.

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NEWS 9<br />

Imagindairy closes its seed round with US$28 million in investment<br />

Imagindairy has secured an additional<br />

US$15 million in its extended seedround.<br />

The initial round in November 2021<br />

brought in $13 million. This brings the<br />

total investment capital to $28 million.<br />

The funding was led by Target Global and<br />

joined by the company’s existing investors<br />

Strauss Group, Emerald Technology<br />

Ventures, Green Circle <strong>Food</strong>tech Ventures,<br />

Collaborative Fund, New Climate Ventures,<br />

and <strong>Food</strong>Sparks by PeakBridge.<br />

The Imagindairy team has created animalfree<br />

milk proteins from microorganisms<br />

via precision-fermentation technology.<br />

The technology allows the production of a<br />

broad spectrum of dairy analogues, from<br />

raw milk to cheese, without involving<br />

animals. Imagindairy’s dairy proteins<br />

are non-GMO, cholesterol-free, and<br />

possess the same flavour, texture,<br />

functionality, and nutritional value of<br />

their cow-based counterparts. Crucially,<br />

they eliminate the burden that livestock<br />

imposes on the environment.<br />

The funds raised in this seed round will be<br />

used for the company’s R&D efforts to launch<br />

a range of real dairy products without using<br />

animals. It also will help attract additional<br />

talent to its team. Imagindairy is currently<br />

<strong>Food</strong> in dialogue & <strong>Beverage</strong> with major dairy <strong>Asia</strong>, food 132 producers x 205 mm, nutrition,” Linie comp. said Shmuel M, Chafets, CC-en91-AZ078 executive 04/22<br />

seeking to diversify their product portfolios.<br />

“We are excited to be able to back the<br />

Imagindairy team who have made incredible<br />

inroads in creating dairy products that don't<br />

rely on industrialised animal agriculture but<br />

offer the same level of functionality and<br />

chairman and founder at Target Global. ■<br />

ProPak <strong>Asia</strong> <strong>2022</strong><br />

Bangkok, 15-18 <strong>June</strong><br />

Hall 99, Stand AK11<br />

Imagindairy’s platform enables costeffective<br />

production of animal-free<br />

milk proteins. This overcomes one of<br />

the many hurdles in alt-dairy protein<br />

production, allowing brands to sell<br />

analogue dairy products at consumerfriendly<br />

prices — a major requirement<br />

for mass-market adoption.<br />

The future starts<br />

in our heads<br />

Discover our line innovations<br />

at krones.com

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