SAN FRANSISCO — Nobell Foods raised $75 million in a Series B funding round led by Andreessen Horowitz and Breakthrough Energy Ventures.
FootPrint Coalition Ventures, Unovis, Germin8 Ventures, Fifty Years, AgFunder, Pear VC, GL Ventures, the venture capital arm of Hillhouse Group and Mission Bay Capital also participated in the round, which brings the startup’s total funding to more than $100 million.
Launched in 2017 through startup accelerator Y Combinator, Nobell Foods creates dairy proteins, including casein, from soybeans. Founder Magi Richani developed a process for recreating the genetic code of dairy proteins in soybean seeds, allowing Nobell to grow plants that have the same caseins found in animal milk. It extracts the caseins and uses them to create plant-based cheeses that “taste, smell, melt, stretch and even age like those made from animals,” according to the company.
Nobell Foods will use funds from the Series B round to expand its team and scale production, with the goal of bringing its cheeses to market by the end of next year.