- San Francisco-based startup New Tradition has closed a $3.5 million seed funding spherical led by Evolv Ventures, the enterprise capital fund launched by Kraft Heinz. Different members included Bee Companions, Mayfield, CPT Capital, Enhance VC and SOSV.
- New Tradition, based late final yr, makes use of fermentation to make dairy proteins for animal-free dairy cheese. The corporate provides plant-based fat, sugars and standard cheese-making strategies to provide its merchandise, in line with an organization press launch.
- Co-founder and Chief Technique Officer Inja Radman stated the corporate is specializing in a viable and sustainable various cheese product. The corporate plans to arrange an R&D and fermentation facility in San Francisco.
The most recent funding by Kraft Heinz’ enterprise capital arm Evolv Ventures reveals the CPG big persevering with its try and rejuvenate its struggling firm. Gross sales and inventory costs are dropping, however serving to fund New Tradition’s on-trend merchandise might assist it faucet into a brand new client base. There is also potential for Kraft Heinz to supply up to date choices of its merchandise utilizing the animal-free dairy cheese, together with its signature macaroni and cheese.
That includes dairy cheese made with out truly utilizing cows might attraction to these in search of extra sustainable merchandise and anxious about animal welfare, water and land use points associated to standard dairy operations. Cheese and butter are two of probably the most polluting meals due to the emissions produced to make them, in line with the Pure Assets Protection Council. It could even be another choice within the nation’s huge typical cheese market, which NPR reported has a document surplus regardless of rising per-capita consumption.
The transfer to create animal-free merchandise continues to collect steam. Different meals tech innovators embrace Good Day, which developed animal-free dairy ice cream created from milk produced by means of microbial fermentation, and Motif FoodWorks, which just lately raised $27.5 million to recreate proteins from dairy, egg and meat to make use of in plant-based options. One in all Motif’s potential merchandise, amongst many, would replicate milk proteins to imitate breast milk.
Whereas New Tradition is simply in its early phases, it has proven some small however tangible course of. CSO Inja Radman just lately instructed The New York Occasions it has performed some double-blind checks to guage whether or not shoppers might style any distinction between its animal-free mozzarella product and a standard store-bought one — and he or she famous “really positive results.”