The Australian precision fermentation company Eden Brew raised $24.4m in a series A round, led by Main Sequence Ventures. This money will be used to introduce animal-free milk in the alternative protein market.
Eden Brew, a dairy product made by Australian farmers, was created in 2021 as a result of a partnership formed between Norco and CSIRO, the Australian science agency, and Main Sequence Ventures, its deep-tech venture fund.
“Eden Brew is focused on creating an animal free dairy category”
The company The CSIRO has developed a science-based fermentation process that is based on precision. The company claims its platform produces casein proteins that deliver the same nutrition, functionalites, sensory qualities and bioavailability as cow’s milk. Eden Brew raised an additional $6.9million in May 2022 from Main Sequence, a US-based investor and Digitalis Venture.
Breakthrough Victoria, Orkla Ventures Digitalis Ventures Possible Ventures Radar Ventures are also participants. The company also received capital from Australian celebrities including the musicians Bernard Fanning, Angus Stone and Paul Piticco. Paralympic gold-medallist Dylan Alcott was also a part of this investment.
Animal-free dairy products: a new category
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