All G Foods – an Australian-owned and founded alt-protein startup – has secured $25 million to ramp up the production of its lab-grown milk and plant-based protein technology.
Agronomics and its investment vehicle New Agrarian Company led the funding round to help scale the startup’s plant-based and fermentation verticals and further accelerate its expansion.
Agronomics says it recognises the need for development under the lab-grown milk category to disrupt the US$700 billion global dairy market.
“We could not be happier with Agronomics leading our Series A round due to their wealth of experience in funding the cellular agriculture sector,” said Jan Pacas, CEO & founder of All G Foods.
He explained that when looking for investment opportunities, it is critical for the company to work with investors that share its vision for developing technology that can produce sustainable food as populations grow.
“We are confident with investors like this, we can accelerate our commercialisation objectives and be the first in Asia-Pacific,” he added.
The startup expertise includes dairy fermentation, casein micelle formation, and the 3D spherical assembly of casein proteins, which is said to be critical for complete functionality in dairy products.
“This is the beginning of a significant investment round for our company,” Pacas concluded.
Other key investors include W23 and Clean Energy Finance. The company said it would announce the total investment and remaining investors joining the capitalisation round in the coming months.
