A $1.75 million investment round has been completed by the Israeli molecular farming business PoLoPo to scale up its unique method for producing animal proteins in potatoes. The money will boost research and development activities and grow the company's core personnel so that prototypes will be available in 18 months. FoodLabs led the Pre-seed round, and further investors include CPT Capital, Siddhi Capital, Plug and Play Ventures, Milk & Honey Ventures, and HackCapital.
To address the protein needs of the food industry and feed the expanding global population, PoLoPo has created a patented technology that allows proteins to be expressed in potatoes in a scalable, economical manner. In addition, the business is constructing a technological platform for protein manufacturing, beginning with Ovalbumin (the egg white protein), focusing on the $26.6 billion egg protein market and the industry's rising need for alternatives to egg white protein. Dr. Maya Sapir-Mir, the co-founder of PoLoPo, remarked, “We're happy to have attracted a group of such distinguished and like-minded investors. With this significant sum of money, we want to accomplish numerous vital goals, such as developing protein-rich potato tubers and functioning samples of ovalbumin.
“We want to provide the world with better meals. A significant potential to achieve this is provided by molecular farming technology, which also eliminates the need for using animals and lowers the carbon footprint of the manufacturing process, “Dr. Raya Liberman-Aloni remarked.
