Nutropy, a French food tech company producing dairy proteins such as casein through precision fermentation, has raised €7 million in an oversubscribed funding round.
The round was led by the Greek fund Big Pi Ventures and the UK fund Zero Carbon Capital, with participation from Beta Lab, Wyngate Inc., Desai Ventures, PVS Investments, and Novax (the growth investment arm of Axel Johnson). Nutropy has also received public financial support through various French and European programs, including Bpifrance (the French Public Investment Bank).
The funding will be used to accelerate Nutropy’s mission of providing the food industry with ingredient solutions containing animal-free casein. These solutions could be used to produce next-generation products such as cheese alternatives.
Following the raise, Nutropy will work to scale up its casein production, further develop its powdered dairy solutions, and expand its portfolio of dairy applications. The company is targeting markets in North America, Asia, and Europe.
“Plug and play solutions”
Nutropy is led by the French-American duo Nathalie Rolland (CEO) and Maya Bendifallah, PhD (CSO). The company previously raised €2 million in pre-seed funding in 2022.
Nutropy’s animal-free caseins are said to be identical to those produced by cows, and can be turned into B2B powdered solutions for use by the dairy industry. Described as “plug and play”, the products could help dairy manufacturers reduce their environmental impact.
One of these solutions is “cheeseable milk”, a milk alternative that can be transformed into cheese and dairy products.
“Our ambition is clear: to offer plug and play solutions to support the food industry’s transition to a more sustainable system, while meeting consumers’ taste and nutritional requirements,” said Rolland.
