Time-Traveling Dairy Farmer Readies to Introduce Fat Substitute, Securing $2.3 Million in Financing
In an exciting development for the plant-based and dairy sectors, Dutch startup Time-Travelling Milkman is set to ramp up production of its innovative product, Oleocream, to 1,000 tonnes a year. This move will enable the company to supply commercial volumes of this versatile fat alternative.
Oleocream, derived from sunflower seeds, has already gained attention for its ability to create a creamy texture similar to dairy fats and its compatibility with high-heat, fermentation, and low-acidity applications. It's also free from allergens and rich in unsaturated fats, making it an attractive choice for companies looking to move away from unsustainable tropical fats like palm and coconut oil, commonly used in the plant-based food industry.
Time-Travelling Milkman, which recently raised €2M ($2.3M) in pre-Series A funding, is not resting on its laurels. The startup is also working on two other products: SunfloPro and SunPulp. Details about these products are yet to be disclosed, but it's clear that the company is aiming to launch its next-generation breakfast spreads and desserts in the coming months.
The funding round was led by Sparkalis and Evercurious, with participation from Oost NL. Besides these, Mountain Partners and Luminous Ventures also participated in the financing round. The new funds will be used to commercialize the startup's Oleocream ingredient.
Time-Travelling Milkman is not alone in its mission to revolutionise the food industry. Dutch producer NoPalm Ingredients has signed a deal with dairy giant Milcobel to use its whey permeate as a fermentation feedstock for its palm oil alternatives. This collaboration is part of an R&D project funded by the Utrecht province, which also involves Time-Travelling Milkman, Rival Foods, and We're Smart World.
The shift towards plant-based and healthier food options is evident in Europe, with two in five consumers actively avoiding processed foods. This trend is reflected in the actions of supermarkets like Albert Heijn, which has released two blended milk SKUs this year.
As the demand for sustainable and healthier food options continues to grow, it's clear that companies like Time-Travelling Milkman are at the forefront of this revolution. With its innovative Oleocream ingredient and ambitious plans for the future, the startup is poised to make a significant impact in the food industry. The total funding for Time-Travelling Milkman now exceeds $3.9M, with Singapore's Terra Oleo also securing $3.1M to scale up production of its waste-derived precision-fermented palm oil and cocoa butter substitutes.
In conclusion, the food industry is witnessing a shift towards sustainable and healthier options, and companies like Time-Travelling Milkman are leading this change. With its innovative Oleocream ingredient and ambitious plans, the startup is well-positioned to make a significant impact in the food industry, contributing to a healthier and more sustainable future for all.
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