SAN LEANDRO, Calif.–(BUSINESS WIRE)–Having confirmed their skill to provide animal-free casein and animal-free mozzarella, New Tradition has closed their Sequence A funding spherical, enabling the corporate to make the transition to a business entity by making key hires and scaling up their manufacturing capability. The $25m, oversubscribed spherical was led by Ahren Innovation Capital and CPT Capital, placing New Tradition in a league amongst famend scientists and leaders throughout cutting-edge fields.
New buyers embody ADM Ventures and Be8 Ventures, backed by two of probably the most established and revered international corporations within the meals and fermentation industries, ADM and Dr. Oetker. Extra new buyers embody S2G Ventures and Future Ventures. Current buyers collaborating within the spherical are Evolv Ventures (the company enterprise arm of Kraft Heinz), SOSV’s IndieBio, Bee Companions, Mayfield, Alumni Ventures Group, and Bluestein Ventures.
New Tradition is main the worldwide motion to an animal-free dairy future. Providing animal-free dairy merchandise which are indistinguishable from standard merchandise in style, texture, operate, and dietary content material, New Tradition mozzarella is healthier for you, the planet, and our meals techniques. By harnessing the facility of animal-free casein to provide animal-free mozzarella, that is the primary animal-free cheese that stretches and bubbles like basic cheese. Whereas different animal-free manufacturers depend on starches, soy, and nuts, New Tradition is forging a brand new path by combining conventional cheesemaking, fermentation, and meals science to carry a couple of sustainable, new tradition for the world of dairy.
The corporate has hosted an prolonged collection of pizza tastings with business specialists and pizza lovers who’ve savored the style, stretch, soften, and bubble of New Tradition’s animal-free mozzarella. These tastings have highlighted the flexibility of the New Tradition cheese melting level, relevant in each 850° skilled pizza ovens and 500° residence ovens (whereas plant-based opponents prime out in 500° ovens). New Tradition cheese will first be out there in choose eating experiences in 2022, beginning with mozzarella in pizzerias.
New Tradition’s Co-founders, Matt Gibson and Inja Radman commented, “We’re thrilled to shut our Sequence A with an unbelievable syndicate of current and new buyers. The progress we now have made with our science and our cheese is a testomony to the world-class staff we now have been lucky sufficient to construct and work alongside. We will’t wait to dive into this subsequent part of scale up and manufacturing to supply our scrumptious, melty, animal-free cheese to pizza lovers all throughout the nation.”
“We’ve been impressed by the progress the staff at New Tradition has made in making use of revolutionary science-based approaches to creating top quality animal-free cheese,” remarked Alice Newcombe-Ellis, Founding and Normal Companion of Ahren Innovation Capital, which co-led the spherical. “Ahren seems to be ahead to supporting New Tradition to carry its merchandise to market to be able to contribute to a extra environmentally sustainable future.”
Co-lead CPT Capital shared, “CPT Capital is delighted to proceed to again New Tradition on its mission to create a extra moral and sustainable dairy firm. Utilizing cutting-edge know-how and experience, New Tradition is creating cheese with the style and texture of historically animal derived cheese, however with not one of the destructive impacts on the well being of our planet, animals and human well being.”
“What New Tradition has completed in a brief time period by their a number of pizza tastings reinforces their market-leading place in growing animal-free casein,” commented Steve Sanger, Normal Companion at Evolv Ventures and New Tradition Board Member. “Their concentrate on utilizing that casein to provide animal-free cheese will permit customers to get pleasure from every thing they love about cheese (style, soften, stretch, browning) with out having to compromise, all whereas serving to to make the world extra sustainable.”
What makes New Tradition distinctive is its skill to make animal-free casein. Stretch and soften are the toughest factor to realize in vegan cheese as a result of casein – the important thing ingredient that gives this cheesiness – is barely present in animal milk…till now. Due to New Tradition’s laser-focus on creating its personal casein with none animal inputs, New Tradition is ready to obtain that soften and stretch, providing an animal-free cheese that’s in a category of its personal.
As well as, New Tradition’s cheese mimics the dietary content material of standard dairy, offering the important protein and vitamins that customers count on from dairy however can’t get from plant-based options.
New Tradition is on the market for interviews and extra particulars. For extra data, observe alongside on Instagram @newculturecheese and make contact with Lilli Sherman at lilli@omalovesfun.com / (510) 541-5673.
About Ahren Innovation Capital – Ahren Innovation Capital is an funding establishment that helps transformational corporations on the reducing fringe of deep science and deep tech. A bunch of extremely numerous, artistic and unique thinkers main their domains, Ahren Innovation Capital believes in taking thought of danger that can ship superior rewards – capturing a generational alternative to offer sensible capital to deep know-how. With a philosophy espousing the significance of relationships and belief, Ahren Innovation Capital supplies long-term capital and help to distinctive founders and groups, empowering them to realize the unimaginable.
About CPT Capital – CPT Capital invests in visionary founders and revolutionary corporations which are disrupting the way forward for meals. CPT is a pioneer and a well-established investor within the various protein business with a market-leading portfolio of first-movers throughout the plant-based, recombinant protein and cell tradition verticals. Investing since 2015, CPT’s portfolio consists of greater than 50 direct investments in early-stage various protein corporations around the globe.
About Evolv Ventures – Evolv Ventures is a $100m enterprise fund that invests in early-stage know-how corporations disrupting the meals business. The fund is backed by Kraft Heinz and is led by a staff of meals, startup and enterprise capital veterans. Given the fund’s main LP, Evolv is ready to carry to bear invaluable relationships and ongoing working help for our founders.
