Israeli plant-based protein co Plantopia raises $9m

Israeli foodtech startup Plantopia has raised $9 million in a new financing round, spearheaded by U.S. dairy giant Schreiber Foods, with participation from Siddhi Capital and local investors. This latest funding brings Plantopia's total raised capital to over $16 million and will be instrumental in advancing the company to the industrial production stage. A manufacturing plant is currently under construction at Kibbutz Sdot Yam.

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The new funds, which will allow the company to move forward to the industrial production stage, brings the total raised by Plantopia to date to over $16 million.

Plantopia, founded by Prof. Alexander Vainstein, Tal Lutzky, and Amir Tiroler, has developed a unique platform based on biotechnology from the Hebrew University's Faculty of Agriculture. This technology allows for the production of complex animal components, specifically milk proteins, directly in plants. The company has successfully created all milk proteins identical to their natural counterparts, but without lactose, and at a competitive cost. This innovation is positioned as a significant environmental advantage over traditional dairy farms, which produce carbon dioxide and methane, by generating oxygen instead.

The company highlights its achievement as the first globally to produce complete casein, comprising all four of its components (αs1, αs2, β, κ). This development is particularly relevant given the increasing demand for protein-rich foods. Whey protein, known for its complete amino acid profile, is considered the gold standard, and a growing percentage of Americans are actively trying to increase their protein intake. Food manufacturers are incorporating milk proteins into a wide array of products.

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Plantopia is the first and only company in the world to have succeeded in producing complete casein with all four of its components (αs1, αs2, β, κ).

Plantopia, established in 2018, has invested approximately eight years in research and development for its proprietary technology. This technology is set to be implemented in the new factory at Kibbutz Sdot Yam. Unlike fermentation-based alternatives that require substantial investment and generate CO2, Plantopia's method relies on indoor vertical farming of sprouts. This process is described as oxygen-producing, requires no light or special conditions, and does not depend on cattle crops or large land areas. The market for milk protein, especially casein, is estimated at $50 billion annually in North America alone, presenting a substantial opportunity for Plantopia's sustainable alternative.

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70% of Americans now report that they are trying to consume more protein, compared with 59% four years ago.