Eden Brew raises $25m for non-dairy milk

Animal-free dairy manufacturer Eden Brew has reached a targeted Series A capital raising goal of $25m during its Series A capital raise, led by Main Sequence Ventures and the Victorian government.

Eden Brew, which describes itself as a leading innovator in the alternative protein and precision fermentation sector, will scale the process of brewing proteins to bring animal-free dairy products to market.

Partner at Main Sequence Ventures and Eden Brew Chair Phil Morle said: “We created Eden Brew with the aim of sustainably increasing the world’s milk supply, through Australian research ingenuity and the immense precision fermentation opportunity.

“As the global population grows, it poses a very real threat to our existing food supply and resources, and companies like Eden Brew augment this to ensure the availability of food in the future.”

Eden Brew has developed a world first animal-free casein micelle which is the key ingredient needed for animal-free dairy to emulate the sensory and nutritional experience of traditional dairy.

Through Main Sequence’s social impact community, Voice Capital, the series A raise attracted a range of new investors including figures from Australia’s music and entertainment scene, Bernard Fanning, Angus Stone and Paul Piticco and elite athlete, paralympic gold medallist, and Australian of the Year Dylan Alcott.

Government-funded Breakthrough Victoria has also invested in the round, with Eden Brew set to establish its head office in Melbourne and further develop its research and manufacturing in Victoria.

Other key investors include Radar Ventures, Possible Ventures, Digitalis Ventures, NGS Super and Norwegian branded goods company Orkla.

Eden Brew Co-Founder and CEO Jim Fader said: “We are focused on creating the ultimate animal-free casein micelle which is critical to produce the properties of milk that we’re used to, and yet it’s cow-free.

“The micelle makes nutrition such as calcium bioavailable and its replication via precision fermentation means families have another source to meet their nutritional needs.

“This is something alternative plant-derived milks cannot replicate. It’s a huge deal, it’s never been done and will change the landscape of alternative milks.”

Further reading:
Don’t have a cow: the Australian startup brewing high-tech animal-free milk

Picture: Eden Brew