Imagindairy

History

2022: Attracting Investment from Target Global

On May 18, 2022, FundTech startup Imagindairy, which develops animal-free milk proteins, raised an additional $15 million as part of an expanded sowing round. The first round, held in November 2021, brought in $13 million. Thus, the total investment amounted to $28 million, which makes it one of the most highly profitable rounds of seed financing in the field of alternative proteins.

The financing was led by Target Global, which was joined by existing investors in the company - Strauss Group, Emerald Technology Ventures, Green Circle Foodtech Ventures, Collaborative Fund, New Climate Ventures and FoodSparks companies PeakBridge.

Co-founders of Imagindairy

As part of their mission to provide consumers with environmentally friendly and healthy dairy products, alt-protein developers have found a way to create dairy proteins without animal products from microorganisms using patented precision fermentation technology. The technology allows you to produce a wide range of dairy analogues, from raw milk to cheese, without the participation of animals. Imagindairy milk proteins do not contain GMO, cholesterol and have the same taste, texture, functionality and nutritional value as their analogues based on cow's milk.

The patented Imagindairy technology significantly enhances protein expression, allowing the production of exceptionally cost-effective animal-free milk proteins. This overcomes one of the biggest barriers to the production of proteins for alternative dairy products, allowing brands to sell analog dairy products at affordable prices for consumers - the main condition for mass adoption on the market.

This hugely successful round of seed financing reflects the high level of trust in Imagindairy and its vision of leadership in the animal protein-free dairy industry, "admires Eyal Afergan, co-founder and CEO of Imagindairy. This significant capital injection will stimulate our ability to make real dairy alternatives a daily reality.

The funds raised in this sowing round will be used to accelerate the research work of the company to launch a line of non-animal dairy products. They will also help attract additional staff to the expanding workforce. Imagindairy is also in dialogue with major dairy producers seeking to diversify their product portfolio.

We are pleased to be able to support the Imagindairy team, which has achieved incredible success in creating dairy products that are independent of industrial livestock production, but provide the same level of efficiency and nutrition, "says Shmuel Chafetz, Executive Chairman and Founder of Target Global. It is becoming increasingly clear that, given the climate crisis and growing food shortages, our dietary patterns and habits must change. Dairy products of non-animal origin have the potential to become one of the most environmentally significant industries on the planet. We are convinced that the enormous experience of the Imagindairy team in the field of large-scale production, combined with the advanced technology that they created, will become a transformational factor in this area. Target Global's contribution to this round is one of its first investments in the FoodTech industry.^[1]

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