Daisy Lab has recently closed its seed round and secured funding to scale up its production of whey protein and continue its research into caseins. The company’s focus on precision fermentation is a promising development in the food industry that has the potential to address significant global challenges like climate change and food insecurity. Daisy Lab is at the forefront of this field, and their efforts to develop dairy-identical proteins using precision fermentation are essential innovations. With the new funding, the company plans to expand its production of microbial whey protein, a vital protein found in mammalian milk. Daisy Lab’s cutting-edge approach could potentially revolutionize the industry and significantly improve its sustainability.
“We are grateful to Latesha Randall, who kicked off the round with Values Trust at the end of last year, and everyone who backed us: Icehouse Ventures, Outset Ventures, Paul Davidson, Even Capital, Serge van Dam, Melanie Vivian, Ph.D., Adam Clark, K1W1, Sustainable Food Ventures.” Commented the company on its latest funding round
The Dairy Industry In New Zealand
Statista’s latest report shows that the dairy sector significantly contributes to New Zealand’s economy, accounting for over 10 billion New Zealand dollars. This industry is also one of the country’s most dominant goods export sectors, with high-quality dairy products produced, including fluid milk, milk powders, butter, cheese, and infant formula. New Zealand has established itself as a world-leading dairy exporter, with around 95% of the milk produced processed for export, making it the largest exporter of whole milk powder (WMP).
Fonterra is the primary milk production and processing company in New Zealand and one of the largest dairy companies worldwide. The cooperative buys milk from 10,500 farmer shareholders and processes it mainly for export. Although dairy milk sales remain relatively stable, the alternative milk market has experienced substantial growth. New Zealand’s core dairy products will face even more competition, with more Kiwis opting for plant-based diets, and the alternative milk segment is growing locally and internationally. As a result, the dairy sector may need to adapt to meet the changing demands of consumers.