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Eden Brew raises US$15.8 million for non-dairy milk

October 6, 2023

Animal-free dairy manufacturer Eden Brew has reached a targeted Series A capital raising goal of AU$25 (US$15.8 million) during its Series A capital raise, led by Main Sequence Ventures and the Victorian government of Australia.

Eden Brew, which describes itself as a leading innovator in the alternative protein and precision fermentation sector, will scale the process of brewing proteins to bring animal-free dairy products to market.

“We created Eden Brew with the aim of sustainably increasing the world’s milk supply, through Australian research ingenuity and the immense precision fermentation opportunity," said Phil Morle, Partner at Main Sequence Ventures and Eden Brew Chair.

“As the global population grows, it poses a very real threat to our existing food supply and resources, and companies like Eden Brew augment this to ensure the availability of food in the future.”

Eden Brew has developed a world-first animal-free casein micelle, which is the key ingredient needed for animal-free dairy to emulate the sensory and nutritional experience of traditional dairy.

Through Main Sequence’s social impact community, Voice Capital, the series A raise attracted a range of new investors including figures from Australia’s music and entertainment scene, Bernard Fanning, Angus Stone and Paul Piticco and elite athlete, paralympic gold medallist, and Australian of the Year Dylan Alcott.

Government-funded Breakthrough Victoria has also invested in the round, with Eden Brew set to establish its head office in Melbourne and further develop its research and manufacturing in Victoria.

Other key investors include Radar Ventures, Possible Ventures, Digitalis Ventures, NGS Super and Norwegian branded goods company Orkla.

“We are focused on creating the ultimate animal-free casein micelle which is critical to produce the properties of milk that we’re used to, and yet it’s cow-free," added Eden Brew Co-Founder and CEO Jim Fader. “The micelle makes nutrition such as calcium bioavailable and its replication via precision fermentation means families have another source to meet their nutritional needs. This is something alternative plant-derived milks cannot replicate. It’s a huge deal, it’s never been done and will change the landscape of alternative milks.”

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