Change Foods

Founded in 2020, Change Foods is a US-Australian food tech startup that is creating animal-free dairy foods (starting with cheese) through precision fermentation technology. Change Foods produces animal-free dairy foods that it claims are indistinguishable in taste and texture from their animal-based predecessors, by using microbes instead of animals to create real dairy proteins and fats. Change Foods planned to debut its first product in late 2023.

Key customers and partnerships

In February 2022, the startup signed two strategic collaboration agreements with Upfield (to drive and develop animal-free cheeses) and Sigma (to advance the startup’s dairy protein science), targeting the acceleration of the startup’s product development while providing opportunities to scale cheese production and distribution capabilities. In October 2022 , the company signed an agreement with UAE’s business solutions provider KEZAD Group, to build a dedicated commercial alternative dairy manufacturing plant in Abu Dhabi.

Funding and Financials

In February 2022, the startup raised USD 12 million in seed extension funding, setting a new record for precision fermentation startups by bringing the total seed investment to USD 15.3 million. The funds would be used to support R&D ahead of its targeted commercial launch. The round was led by Route 66 Ventures, while other investors included Upfield, Orkla, Green Generation Fund, and Blue Horizon Ventures. Further, in May 2022 the startup also secured an AUD 1 million (~USD 698,645) grant from the Australian Commonwealth Government to upcycle sugarcane fiber (bagasse) waste into a feedstock for microbes.