Evolv Ventures leads New Culture’s $3.5 million funding round
New Culture, the San Francisco-based startup making animal-free dairy cheese, has announced the closing of $3.5 million in seed round funding.
New Culture, the San Francisco-based startup making animal-free dairy cheese, has announced the closing of $3.5 million in seed round funding. The round was led by Evolv Ventures, the $100 million venture fund backed by Kraft Heinz investing in emerging tech companies transforming the food industry. Other investors in the round include Bee Partners, Mayfield, CPT Capital, Boost VC, and SOSV who followed on after its initial pre-seed investment through the biotech accelerator program IndieBio.
The startup, which was founded in late 2018, uses fermentation instead of animals to make dairy proteins.
“It’s fantastic to have the support of our investors as we look to grow the company and scale New Culture’s unique fermentation technology,” said Matt Gibson, CEO and cofounder of New Culture. “We want to disrupt one of the oldest and largest food industries in the world by producing a better dairy cheese for anyone to enjoy—whether you’re a cheese lover, lactose-intolerant, vegan, environmentally conscious, or health conscious. The capital, knowledge, and network our investors bring to New Culture enables us to begin doing that.”
New Culture will remain in the San Francisco area as it looks to set up an R&D and fermentation facility while also growing its team.
