NEW TECH FOODS

New Zealand-based start-up Miruku has raised $5 million in a pre-Series A funding round to support its development of dairy proteins and fats using molecular farming and oilseed crops.

The round was led by Motion Capital and saw participation from Movac, NZVC, Cultivate Ventures and Icehouse Ventures.

The new capital is set to advance the start-up's ‘dairy seed system’ and facilitate it in conducting trials for its initial crop cultivation with farming partners in Australia, including the Commonwealth Scientific and Industrial Research Organization (CSIRO), an Australian government agency.

While other players are working in the precision fermentation to create animal-free proteins, Miruku says that molecular farming is “more efficient” as it can be easily scaled and incorporated into existing agricultural practices. Additionally, as in precision fermentation, the end proteins are not genetically modified, allowing faster approvals.

Lachlan Nixon, managing partner at Motion Capital, said: “We are delighted to be supporting Miruku to re-write the rules of dairy production. Miruku’s molecular farming technology enables the production of bio-similar dairy proteins and fats at a significantly cheaper cost, as well as with significantly less environmental impact, than traditional animal agriculture.”

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