A recent £4.5 million seed plus round brings alternative dairy startup Mighty’s total funding to £8 million. Funds are being earmarked for international expansion, alongside bringing a new precision fermentation-based plant milk to market in early 2022.
The latest funding for Mighty was led by two of Germany’s leading brewing families. Bittburger Ventures and Schadeberg Family Office were joined by VRD Ventures and the Latsco family Office in completing the round. Mighty has already secured investment from Beyond Impact, Veg Capital, and Dohler Ventures.
Animal-free milk choices have increased exponentially in recent years. Mighty conservatively estimates there are more than 70 options available on the market today. This variety, the company says, can prove overwhelming and lead to choice fatigue for consumers.
Peas and beyond
Already known by end consumers for its vegan-friendly pea milk, which led to oat options, shakes, and protein powders, Mighty is moving into precision fermentation animal-free dairy milk. A significant technological development, the shift has necessitated new premises, due to open in Yorkshire in January.
“We’re proud to announce this multi-million-pound investment in this new innovative new technology that will elevate our plant milk offering and drive trial with the masses. When we started making pea milk in 2018, it was with the view to help the planet and bring a more nutritious and sustainable plant-based milk to the market,” said Tom Watkins, co-founder of Mighty. “We believe that simplification of the category is the future of plant milk and by 2030 50% of dairy can and should be replaced. Through democratisation of the category, it’s our vision to convert one million new consumers to try plant milk. This will have a significant impact on individuals’ carbon footprint whilst also aiming to drive real action on the levelling up agenda.”
Precision fermentation will be used to create milk that is comparable in taste, texture, and viscosity to conventional dairy. Yorkshire might not have the same biotech connections as startups based out of North Carolina’s research triangle, but Watkins and his brother want to change that. Fresh from the COP26 convention, the brothers hope to make northern England a hotspot for future food tech innovation.
Collectively disrupting dairy
Mighty is not the only plant milk manufacturer in the UK using precision fermentation. Better Dairy, a startup based in London, is also using taking food tech to the next level, after securing funding last year. It could prove to be a race to the finish line, with both Mighty and Better Dairy citing early 2022 for launch.
Elsewhere in the world, Remilk, an Israeli food tech, and Perfect Day in the U.S., are pressing ahead with production. Perfect Day recently scored a Starbucks pilot partnership, with selected Seattle stores debuting the dairy-identical alt milk. It is working with a variety of brands to replace animal-based dairy food, from ice cream and cheese to sauces and snacks in the future.
Lead image courtesy of Mighty.