25madison is an early-stage venture platform: working with entrepreneurs to build companies from the ground up and investing in pre-seed to series A startups.  The platform is comprised of 4 segments:  (i) General studio: Builds companies across verticals (ii) 25m health: Builds and invests in healthtech startups in partnership with LifePoint Health (iii) Ventures fund: Invests in pre-seed to series A startups focused on B2B SaaS, fintech, and healthtech (iv) 25m create: Brand and experience agency with services including brand strategy, visual identity, experience design, and web & digital marketing

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Parmela Creamery

Parmela Creamery is creating the next evolution in plant-based cheese through the culturing and aging of plant-based milks, how cheese has always been made, just plant-based.

Parmela Creamery uses traditional cheese-making techniques, such as culturing and aging, for its cashew-based cheese products, giving it an authentic and rich flavor similar to animal-based cheese. The California startup’s product line, including shreds, slices, sauces, dips, spreads, blocks, and ravioli, is available at major grocers such as Publix Super Markets, Whole Foods Markets, and Wegman’s, among others.

A booming food and beverage segment with a history as rich and varied as its present-day product offerings.

Plant-based Dairy & Egg

Parmela Creamery uses traditional cheese-making techniques, such as culturing and aging, for its cashew-based cheese products, giving it an authentic and rich flavor similar to animal-based cheese. The California startup’s product line, including shreds, slices, sauces, dips, spreads, blocks, and ravioli, is available at major grocers such as Publix Super Markets, Whole Foods Markets, and Wegman’s, among others.Funding and financialsIn June 2019, the company raised USD 1.25 million in a seed round led by 25Madison. The proceeds were allocated toward expansion, increasing brand awareness, and innovation.

Eat JUST (Hampton Creek prior to 2018) is a food technology company founded in 2011 that produces plant-based alternatives such as JUST Mayo (made from yellow peas), JUST Egg (made from mung beans and legumes), and GOOD Chicken (cell-cultured meat). Eat Just has large-scale facilities in Germany and North America and in <a href="https://sp-edge.com/updates/9243">March 2022 </a>, the company announced the groundbreaking on its new manufacturing facility in Singapore, the largest of its kind in the country post-completion, slated to be complete in 2 years at a cost of USD 120 million.JUST Egg, a plant-based substitute for making omelets and scrambled eggs, was commercialized by Eat JUST in 2018. In March 2020, Eat JUST reduced the price of JUST Eggs from USD 7.99 per 12 oz. bottle to USD 4.99. The company aims to make JUST Egg more affordable and as of January 2022, was available at Walmart online for USD 3.94 per 12 oz. bottle.In January 2020, the company announced a new folded plant-based egg along with an upgrade to its original liquid plant-based egg. The folded JUST Egg (priced at USD 3.88 for a box of four eggs in January 2022, down from USD 4.99 in January 2020), also made from mung beans and legumes, is ready to heat and eat. The Folded JUST Egg was available in more than 5,000 supermarkets such as Whole Foods Market, Albertsons Safeway, Gelson’s Markets, Stop &amp; Shop, Kings Food Markets, and Giant/Martin’s since April 2020. The upgraded liquid JUST Egg was launched in May 2020. By March 2021, the startup had sold a total of 100 million egg equivalents (up from 50 million in August 2020) of JUST Eggs in the US, Canada, and Asia (Singapore, Hong Kong, China, South Korea, and Thailand).Key customers and partnershipsIn August 2021, the company partnered with Infinite Foods to launch its plant-based egg in South Africa, its first entry into a sub-Saharan African country. <a href="https://sp-edge.com/updates/9599">In April 2022 </a>, Eat Just Inc. received regulatory approval for its mung bean protein in the EU and is planning to launch the product in the region in Q4 2022. Further, in <a href="https://sp-edge.com/updates/10634">May 2022 </a>, tennis pro Serena Williams and renowned actor Jake Gyllenhaal partnered with the company to appear in its national ad campaign ‘Really Good Eggs’ to promote JUST Egg. In <a href="https://sp-edge.com/updates/13770">October 2022 </a>, the company partnered with MingsBings to launch four new vegan breakfast items featuring JUST Egg. Also, during the same month, <a href="https://sp-edge.com/updates/13795">JUST Egg partnered with Starbucks </a>for a limited trial of new vegan menu items. In <a href="https://sp-edge.com/updates/20178">July 2023 </a>, the company partnered with Alpha Foods as a part of its brand portfolio renovation. Following this, JUST Egg <a href="https://sp-edge.com/updates/21095">partnered </a>with Korean alternative-meat company UNLIMEAT to develop Korean-style vegan products.Funding and FinancialsIn <a href="https://sp-edge.com/updates/12427">August 2022 </a>, the company bagged a USD 25 million investment along with a strategic partnership from Alibaba Group backed private equity firm, C2 Capital partners. Together, the companies are set to work towards expanding Eat Just’s footprint in the Chinese market. Later, in <a href="https://sp-edge.com/updates/21471">September 2023 </a>, the company raised an undisclosed amount in new funding led by VegInvest/Ahimsa Foundation. The funding was to be deployed towards improving the quality and profitability of Eat JUST's products.

Eat JUST

Zero Egg is an Israel-based developer of egg alternatives in powder form using plant-based ingredients such as soy, potatoes, peas, and chickpeas. The startup initially launched two main products, the EGG Basic, a replacement for scrambled eggs and omelets, and BAKE Basic, an egg replacement for baking. In <a href="https://sp-edge.com/updates/13217">September 2022 </a>, the company launched “Zero Egg Scoopable Scramble”, a ready-to-eat frozen plant-based scrambled egg product claimed to be the world’s first of its kind.The company initially only sold to foodservice customers and food manufacturers in 2 lb. bags of around 86 to 130 equivalent eggs. In October 2020, Zero Egg entered the US B2B market following a successful launch in the Netherlands and Israel. As of March 2024, the company’s products can also be purchased online in Patty and Liquid form.In 2021, the company announced that its product is co-manufactured in Cookeville, Tennessee, and would be distributed by Gordon Food Service in the US in 2021.Key customers and partnershipsIn <a href="https://sp-edge.com/updates/18573">May 2023 </a>, Zero Egg partnered with NYC’s Plantega to become the latter’s exclusive plant-based egg supplier. Plantega, based on a deli-in-store concept, featured Zero Egg’s new Egg Patty in its bodega-style breakfast sandwiches, available via all its outlets and food delivery platforms. The following month, the company <a href="https://sp-edge.com/updates/19335">partnered with The Friendly Toast </a>, a US restaurant chain, to launch the Vegan Zero Egg Breakfast Sandwich at all of its ten locations.Funding and financialsIn November 2020, the company raised USD 5 million in a Series A funding round led by Powerplant Ventures. The funding was earmarked for new product launches and expanding the company’s US footprint.

Zero Egg

Impossible Foods, a producer of plant-based meat products, demonstrated a prototype of its plant-based milk product in October 2020. The product has been under development by a five-member research and development (R&amp;D) team since 2015. The startup developed the milk alternative using plant-based ingredients, including a special de-flavored and deodorized soy protein. Impossible Foods claims its product tastes like cow’s milk and functions (froth, cook) like cow’s milk. Unlike soy or nut-based milk, the Impossible Foods milk alternative can be mixed with hot beverages without any precipitation.Funding and financialsIn its latest funding round in November 2021, the startup raised USD 500 million in a venture funding round led by Mirae Asset Global Investments, with participation from returning investors. The latest funding is expected to fuel continued retail expansion, growth across its supply chain, product portfolio, technology platforms, and international expansion of its plant based meat products. The company plans to use the USD 700 million funding it raised in its 2020 Series F and Series G funding rounds to double its research and development team, with a focus on launching plant-based milk, steak, bacon, and fish.

Impossible Foods

Perfect Day produces animal-free dairy products using fermentation techniques. The startup uses microflora (microorganisms such as bacteria, yeast, or in this case, fungi) to create the protein blocks of milk-casein and whey via fermentation, which is later combined with fat and water to produce genetically identical substitutes to animal milk. Perfect Day has developed the microflora to produce milk proteins with a similar genetic blueprint corresponding to casein and whey. The startup launched its first product in 2019, a limited line of animal-free ice cream. Perfect Day has also developed animal-free substitutes for cream cheese, feta, and cheese spreads, in addition to milk. Since its first funding round in December 2019, Perfect Day reported a doubling of production capacity while significantly reducing costs. In <a href="https://sp-edge.com/updates/14938">November 2022 </a>, the company launched its Very Dairy animal-free milk in Singapore which is claimed to be the first precision fermented milk to enter the Asian market. Following this, Perfect Day <a href="https://sp-edge.com/updates/14989">acquired India’s Sterling Biotech Limited </a>at a value of 638 crore rupees (~USD 7.81 million).In <a href="https://sp-edge.com/updates/20068">July 2023 </a>, Perfect Day exited its consumer-facing business, The Urgent Company (TUC), due to investor pressure and to shift its focus towards R&amp;D innovation, B2B partnerships, and its nth Bio precision fermentation consulting business. 15% of the workforce at TUC was laid off as a part of this move.Key customers and partnershipsThe startup will focus on ingredient supply and partnerships with food manufacturers, adapting a B2B model. In May 2020, Perfect Day announced a collaboration with Smitten Ice Cream to produce and launch an animal-free and dairy-free ice cream, which was later called “N’Ice Cream.” Smitten Ice Cream launched four flavors priced at USD 12 for a 16 oz. container, on par with the other animal-free ice cream products. Further, the company entered into partnerships with Tomorrow Farms in <a href="https://sp-edge.com/updates/10605">May 2022 </a>and Strive Nutrition in <a href="https://sp-edge.com/updates/10862">June 2022 </a>to supply fermented animal-free whey protein for the production of alternative milk. In <a href="https://sp-edge.com/updates/11970">July 2022 </a>, the company partnered with sports nutrition brand, Myprotein to launch a precision fermented Whey protein powder. The company partnered with global food and beverage leader, Nestle in <a href="https://sp-edge.com/updates/12953">September 2022 </a>to develop and trial an unnamed alternative milk beverage. Further, during the same month, the company unveiled its <a href="https://sp-edge.com/updates/13187">enterprise biology business, “nth Bio” </a>, offering precision fermentation expertise and technology to companies worldwide and announced Onego Bio as its first partner in this new venture.In <a href="https://sp-edge.com/updates/26920">February 2024</a>, Perfect Day partnered with Unilever-owned ice cream company Breyers, to supply precision-fermented whey protein for developing a lactose-free ice cream product.Funding and financialsIn its latest funding round in <a href="https://sp-edge.com/updates/25248">January 2024 </a>, Perfect Day raised up to USD 90 million in pre-Series E funding led by its internal investors. The funding was earmarked for supporting Perfect Day's shift toward manufacturing on a larger scale and paving the path for the commercial release of its fermented whey protein product.

Perfect Day

Califia Farms uses almonds to produce a range of plant-based alternatives such as milk, cold-brew coffee, creamers, half-and-half, butter, and yogurt. In February 2019, the US-based startup launched Übermilk, a milk alternative made with oat milk, pea protein, sunflower oil and seeds, flaxseed oils, and other vitamins and minerals. Übermilk contains the same amount of calories, more protein (8 g), and less sugar (2 g) than a serving of cow’s milk.In May 2020, Califia Farms replaced Übermilk with the Protein Oat product line, made with oat milk and pea protein, for a price of USD 5.99 per 48 oz (1.4 L). As of December 2020, the 48 oz unsweetened almond milk was priced at USD 3.99, while the 25.4 oz almond milk creamer cost USD 4.99, and 8 oz plant butter went for USD 4.79.In <a href="https://sp-edge.com/updates/14325">November 2022 </a>, Califia Farms added plant-based whipping cream to its portfolio with the launch of Heavy Whip. During <a href="https://sp-edge.com/updates/15601">January 2023 </a>, the company added USDA-certified Organic Oatmilk and Almondmilk–made with only purified water, sea salt, and oats/almonds–to its range of alternative dairy products. Further, in <a href="https://sp-edge.com/updates/26576">February 2024 </a>, the company launched Califia Farms Complete, a plant-based milk claimed to be nutritionally comparable to dairy.Califia Farms products are available in the US at Whole Foods, Kroger, Sprouts, and Target outlets. In its latest funding round in January 2020, Califia Farms raised USD 225 million in Series D funding led by the Qatar Investment Authority. Califia Farms intends to use the funding to expand its production capacity, research and development (R&amp;D) efforts, and geographical expansion.

Califia Farms

Provides sustainable solutions for dairy products and egg farming

Producers of plant-based cheese alternatives using ingredients such as coconut, almonds, cashews, soy, hazelnut etc. Startups use their proprietary plant-based cultures for the fermentation process.

Parmela Creamery

Plant-based Dairy & Egg

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