Pitch: Swedish startup using precision fermentation to alternatives to animal fat
Source: Melt & Marble
ID card
- HQ: Sweden
- Founded: 2015, initially called Biopetrolia
- Funding: $10.1M
- Last Funding: €2.5M (july 2024)
- Corporate investors: Paulig (Finnish food company)
- Partnerships: Valio (Finnish dairy cooperative)
- Technology/product: Precision fermentation for fat
- Competitors: Nourish Ingredients (US) which is partnering with Fonterra
- Regulation: not yet asked for regulatory approval
- Link to the dashboard with past articles
More insights
- Less advanced than the other two startups in the scouting for this quarter, but working on a topic where we see a strong and growing appetite for innovation.
- Alternative fats could be the equivalent of alternative sugars, but with a much less mature ecosystem.
- The partnership with Valio announced in this quarter aligns with its competitor (Nourish Ingredients, a US startup) partnership with Fonterra, another, much larger, dairy cooperative. The idea is to use the startups’ precision-fermentation-made fats into plant-based dairy products. This would make a lot of sense, notably in plant-based cheeses where current fats are creating texture, taste, and melting challenges.
For Symrise
Why did we select the startup? This is an early-stage ecosystem, with multiple applications in dairy products (notably cheeses). If these startups succeed in developing useful “designer fats” (designed for specific applications), they could help to boost the alternative plant-based cheese market without requiring precision fermentation made dairy proteins (notably caseins). In that case, there would be a taste challenge, which Symrise could help with.
Why now? The two leading startups in that space have found their “dairy partner”, so, it could be relevant to have a discussion on flavouring in the near future.
Source: Melt & Marble