Change Foods raises over $15.3m in seed investment round

Animal-free dairy company Change Foods has raised $12 million in a seed extension round, bringing its total seed investment to over $15.3 million.

The over-subscribed round was led by Route 66 Ventures and also included Upfield, Orkla, Green Generation Fund and Blue Horizon Ventures, among others.

The precision fermentation company creates dairy proteins – caseins – which serve as the key ingredients for its animal-free cheese. Change Foods uses microbes instead of animals to create real dairy proteins and fats.

The company has also signed two strategic collaboration agreements, with Upfield and Sigma, which it says will accelerate its product development.

David Bucca, founder and CEO of Change Foods, said: “Our mission is to transform the global cheese business with new products that deliver the indulgent taste and eating experience of traditional animal-derived products, but without the detrimental impacts of industrialised animal agriculture”.

He continued: “Our flagship funding round and collaboration agreements demonstrate confidence in our ability to usher in revolutionary animal-free cheese products. Industry partnerships are a critical part of our business model as we look to leverage the scale and expertise of leading industry players to rapidly expand production and go-to-market.”

Change Foods is targeting late next year for its initial market launch.