December 2, 2022

The Phyx44 team

Phyx44, a biotechnology food sciences startup based in Bengaluru, India, has raised US$1.2 million in seed funding led by Better Bite Ventures.

Ahimsa VC, PeerCapital, Spectrum Impact, Rohit Gulati (Managing Director and Partner of Boston Consulting Group), Sandhya Sriram (CEO, Shiok Meats), Big Idea Ventures and Humane Society International also attended.

The startup will use the money to accelerate research and development, expand the team and work on co-developing the product formulation with key partners.

Founded in early 2021, Phyx44 develops cruelty-free milk proteins and fats for use in dairy products. It relies on microbial fermentation as the best way to replicate dairy products. This technology teaches microbes to do what a cow or buffalo would do inside their cells.

Unleashing the power of these microbes will help reduce animal suffering, land and water use, and greenhouse gas emissions from dairy production worldwide.

Also Read: Better Bite Ventures Raises $15M Fund for Alternative Early-Stage Protein Startups in Asia

The Phyx44 team has already produced whey and casein proteins (found in conventional milk) on a laboratory scale.

Phyx44’s products can be used in multiple applications including ice cream, cheese and bakery, advancing the alternative dairy sector on all dimensions of taste, functionality and accessibility.

The company’s first product is expected to be launched in Singapore and India in 2024.

“We are one of the few companies working on key fat components in addition to key milk proteins because we believe this will greatly contribute to our ability to create a superior product,” said Bharath Bakaraju, Founder of Phyx44.

“The intersection of India as an agribusiness, the largest producer and consumer of dairy products and a giant pharmaceutical manufacturer presents Phyx44 with a tremendous opportunity to sustainably meet global demand for dairy ingredients and products,” said Jinesh Shah, Chief Investment Officer at Ahima VK.

“We believe Phyx44 will leverage its base in India and provide affordable, sustainable milk proteins and fats to partners and consumers worldwide. With its biotech infrastructure and talent pool, India has the potential to be the smart protein factory in the world,” said Michal Klar, founding partner of Better Bite Ventures.

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