While the food tech investment sector has been figuring itself out in recent years, Miruku, a New Zealand-based food tech company, has been busy getting ahead of the curve with its molecular farming technology. This proactive strategy has put the company about three to four years ahead of emerging competitors, according to CEO Amos Palfreyman.
Navigating Climate-Related Challenges and Broadening Focus
Miruku’s management team, led by Palfreyman, has not only aimed to navigate the challenges presented by the shifting climate impacting traditional dairy production but has also broadened its focus to address critical issues of food security and nutrition. As Palfreyman explained via email interview:
"Our goal is to advance our technology and progress towards market readiness. This includes expanding our footprint in Australia, looking at establishing a presence in the United States, and continuing to develop our proprietary dairy seed system."
Molecular Farming Technology: A Breakthrough in Plant-Based Dairy
Miruku’s approach to molecular farming technology involves programming plant cells to be mini-factories for producing proteins and other molecules traditionally made by animals. This breakthrough allows the company to utilize a larger portion of the seed, transforming it into a range of versatile ingredients tailored for the food and beverage industry.
The company’s proprietary dairy seed system has undergone significant advancements since its initial focus on programming plants to produce dairy proteins that could be extracted from seeds. Miruku now leverages interactions between recombinant dairy casein and native plant proteins, with or without improved fatty acid profiles.
"This breakthrough allows us to utilize a larger portion of the seed, transforming it into a range of versatile ingredients tailored for the food and beverage industry," Palfreyman explained. "We’ve now reached several key proof-of-concept milestones demonstrating the viability and potential of the dairy seed system."
Proof-of-Concept Milestones and Expansion Plans
During this time, Miruku has tripled the size of its team and formed relationships with a number of food manufacturing partners for co-development opportunities. The company has also broadened its footprint to Israel as well as Australia, which was selected as the launchpad for initial market entry.
Today, Miruku announced $5 million in what Palfreyman called a pre-Series A round. This funding will enable the company to expand its crop development efforts, including a partnership with CSIRO (Commonwealth Scientific and Industrial Research Organization), the Australian government agency responsible for scientific research. As such, the company will take its modified safflower varieties into field trials in Australia.
Partnership with CSIRO: A Major Milestone
The partnership with CSIRO is a significant milestone for Miruku, as it represents a major collaboration between industry and academia. The company’s modified safflower varieties will be taken into field trials in Australia, marking the first time that molecular farming technology has been tested at such a large scale.
Looking Ahead: Expansion Plans and Market Readiness
Above all, Miruku’s priority is to advance its technology and progress towards market readiness. This includes expanding its footprint in Australia, looking at establishing a presence in the United States, and continuing to develop its proprietary dairy seed system.
As Palfreyman noted:
"Our goal is to be ready for commercialization. We’re working tirelessly to advance our technology and ensure that we can meet the demands of the market."
The Future of Milk: A Shift Towards Plant-Based Dairy
Miruku’s use of molecular farming technology to create plant-based dairy products marks a significant shift in the industry. As concerns about climate change, food security, and nutrition continue to grow, companies like Miruku are poised to play a major role in shaping the future of milk.
The announcement of $5 million in funding represents a major milestone for Miruku, as it will enable the company to accelerate its development plans and bring its proprietary dairy seed system to market. As the industry continues to evolve, one thing is clear: Miruku is at the forefront of the plant-based dairy revolution.
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Stay Up-to-Date with Miruku’s Progress
To stay up-to-date with Miruku’s progress and learn more about the company’s molecular farming technology, be sure to follow their social media channels or sign up for their newsletter. With its innovative approach and commitment to advancing plant-based dairy products, Miruku is poised to make a significant impact in the food tech industry.
