Israeli cow-free dairy startup Remilk snags $120 mn; Protai gets seed money

 Israeli cow-free dairy startup Remilk snags $120 mn; Protai gets seed money

Israeli food-tech startup Remilk, which develops animal-free milk and dairy products, has raised $120 million in a financing round led by Hanaco Ventures.

The New York- and Tel Aviv-based venture capital firm was joined in the funding round by a bunch of VC investors and food-tech companies. These include US-based food-tech VC firm Rage Capital, CPT Capital, plant-based egg company Just, Israeli plant-based yogurt startup Yofix, and Precision Capital.

These investors were joined by Remilk’s existing backers including Israeli food company Tnuva, German dairy company Hochland, early-stage investor fresh.fund, and Israeli VC company OurCrowd.

The investment values the two-year-old company at $325-500 million, according to various Israeli media reports.

Remilk was founded in 2019 by Aviv Wolff and Ori Cohavi, a scientist.

Apart from Remilk, Hanaco has also backed agri-tech company SeeTree, plant-based meat company Redefine Meat, shared transportation company Via, and Lightricks, a Jerusalem-based software startup.

Protai

Protai, an Israeli company that offers an artificial intelligence platform for protein analysis, has raised $8 million in a seed funding round as it emerged from stealth mode. Grove Ventures and Pitango Health led the round.

Protai was founded in 2021 by chief executive officer Eran Seger and chief technology officer Kirill Pevzner.

The startup said it will use the money to develop its platform, accelerate discovery programs, and increase partnerships with pharmaceutical companies.

The company says it has developed an end-to-end AI-based platform that can map the course of a disease at the protein level. This enhances the ability to observe cellular function and improves the way new drugs are discovered.

Aman Malik

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