Imagindairy

Imagindairy is an Israeli FoodTech startup that is focused on providing sustainable solutions for dairy consumers by innovating alternative proteins from microorganisms via proprietary precision fermentation technology. This tech allows for the creation of a wide range of dairy analogs. The company claims that its animal-free proteins are non-GMO, cholesterol-free, and have the same texture, flavor, and nutritional value as their cow-based counterparts. Further, the company targeted achieving price parity ahead of commercialization and planned to launch its products utilizing the B2B business model by 2023. It also planned to diversify its product portfolio in collaboration with major dairy food producers.

In April 2023, French food and beverage producer Danone acquired a minority stake of the company with an undisclosed investment. With this acquisition, Danone planned to collaborate on projects in the animal-free dairy space to explore potential business applications and help expedite the growth of Imagindairy by providing strategic and operational support.

Imagindairy obtained self-affirmed Generally Recognized As Safe (GRAS) status for its animal-free whey protein per FDA requirements in August 2023, enabling the sale of its products within the US. The company plans to explore potential collaboration opportunities and work toward its long-term goal of achieving scale for mass-market adoption. Later, in January 2024, the company acquired industrial-scale production lines for generating animal-free, sustainable dairy proteins to offer alternative dairy at cost parity with animal dairy products. According to the company, this facility can process over 100,000 liters of precision-fermented dairy proteins, with plans to triple this capacity over the next two years.

Key customers and partnerships

In March 2024, Imagindairy partnered with Ginkgo Bioworks, a leader in cell programming and biosecurity, to develop and economically produce animal-free, non-whey dairy proteins.

Funding and financials

In November 2021 the company raised USD 13 million in its initial seed round of funding, which was followed by an extension round in May 2022 , securing a further USD 15 million. This brought the total funding raised to USD 28 million at the close of its seed funding round. The extended seed round was led by Target Global with participation from FoodSparks by PeakBridge. The raised funds were expected to be used to accelerate the company's R&D efforts for the commercialization of animal-free dairy products and additional hires to join its growing workforce.