Miruku secures more funding as plant-based dairy tech reaches proof of concept
Miruku’s focus extends beyond addressing challenges in traditional dairy production to encompass broader issues of food security and nutrition.
While the food tech investment landscape underwent changes last year, Miruku, a New Zealand-based food tech company, surged ahead with its molecular farming technology. According to CEO Amos Palfreyman, this proactive approach has positioned the company “three to four years ahead of emerging competitors.”
A Focus on Broader Challenges
Palfreyman emphasized that Miruku’s focus extends beyond addressing challenges in traditional dairy production to encompass broader issues of food security and nutrition. The company aims to leverage molecular farming technology to program plant cells as mini factories for producing proteins, fats, and sugars traditionally sourced from animals.
Unique Differentiators
Miruku stands out by specializing in business-to-business operations and modifying both proteins and fats within the same plant, primarily safflower due to its climate resilience. While other companies like Mozza Foods and Nobell Foods also utilize molecular farming technologies for dairy products, Miruku’s approach offers unique advantages.
Advancements in Dairy Seed System
Since its seed funding round, Miruku has made significant advancements in its proprietary dairy seed system. Initially focused on programming plants to produce dairy proteins extractable from seeds, the company has since expanded its scope to include interactions between recombinant dairy casein and native plant proteins. This breakthrough allows Miruku to utilize a larger portion of the seed, transforming it into versatile ingredients tailored for the food and beverage industry.
New Funding Round
Miruku’s recent $5 million pre-Series A round, led by Motion Capital and including seed round investor Movac and new investor NZVC, enables the company to expand its crop development efforts. This includes a partnership with CSIRO to conduct field trials of modified safflower varieties in Australia. Additionally, the company plans to establish a presence in the United States, further advancing its technology and progressing towards market readiness.