An AgriTech and FoodTech start-up growing dairy proteins and fats in plants
Co-founders – Amos Palfreyman, Ira Bing and Professor Harjinder Singh.
The future of food will be defined by more than innovation. But by the ability to create ecosystems that are both carbon and cost conscious. This company did just that, and was why we led the oversubscribed seed round in 2022 alongside others, through our Emerge Fund 4.
The story of Miruku
Miruku is developing a novel technique for producing alternative dairy proteins through a molecular farming platform. Their approach involves growing proteins directly in plants, where plant cells are recruited as mini-factories to produce proteins, fats and sugars that are normally only sourced from animals. The technology has the potential to create animal-free proteins more cost-effectively than current techniques using microbial fermentation.
There was no question that the plant-based protein market is massive and continues to grow. It was a market supported by meaningful and long-term drivers including the need to reduce greenhouse gas emissions, a call for better animal welfare, and changing consumer preferences.
The solution
The four founding team members were a key part of our investment thesis, as they are praised to be among the best in the world in their fields, both scientifically and commercially.
Oded Shoseyov, CSO
An expert in recombinant protein production in plants. He has authored more than 200 scientific publications and holds 62 patents in plant sciences and genetics in agriculture. Oded is affiliated with the Hebrew University of Jerusalem, Plant Sciences and Genetics.
Harjinder Singh
Director of the Riddet Institution in NZ, he is an expert in dairy protein chemistry and formulation. He published over 350 papers and is a highly cited researcher in Agricultural Sciences.
Ira Bing, Founder and Executive Chair
A life sciences entrepreneur and investor, Ira has been the driving force behind bringing the Miruku team together, connecting best-in-class scientists in Israel and New Zealand.
Amos Palfreyman, CEO of Miruku
Amos has extensive experience in the emerging proteins sector both locally and internationally, having worked with Food HQ, Food Valley and Fonterra.
The investment case
Movac had been looking for the right opportunity to enter this sector. Miruku clearly stood out due to the team, size of the market, and the potential to build excellent defensibility via a patent portfolio. Miruku also had powerful alliances with leading research organisations spanning multiple countries. Combined with Movac’s funding and experience, we believed Miruku presented a strong force for good and an excellent addition to an increasingly diversified portfolio.
Final thoughts
Thanks to Ira for inviting Movac into the deal and for pulling together the founding team, and a big thanks to Amos for all his work. Many thanks to BBV, Aspire and Ahimsa for joining us in the round, as well as to the wider scientific community for choosing to be part of Miruku’s journey. We are excited about Miruku’s potential and delighted to be on board.