jfid – French dairy giant Danone has signed a strategic investment agreement with the Israeli startup Wilk, specializing in cell technology for cultured milk production. This investment includes the potential collaboration to develop cultured milk products from human breast milk (human milk oligosaccharides).
Danone Manifesto Ventures (DMV), the corporate venture arm established by the Paris-based food company, will invest $2 million USD, leading a funding round of $3.5 million USD announced by Wilk on the Tel Aviv Stock Exchange on Monday.
After the investment, DMV will own at least 2% of Wilk’s shares. Wilk, formerly known as Biomilk, was founded in 2018 by Dr. Nurit Argov-Argaman from the Hebrew University of Jerusalem. Since then, the company has been developing cell-based technology to produce cultured milk from human breast milk and animal milk.
Argov-Argaman took Wilk public on the TASE in 2021 through a merger deal with a special-purpose acquisition company (SPAC).
For cultured milk derived from animals, Wilk isolates milk-producing cells from the udders of cows and transfers them to a bioreactor. There, they are exposed to the company’s patented ingredients to produce milk components without requiring cows in the final milk production process.
This process is also applied to the production of cultured milk from human breast milk, complete with fats and proteins essential for nutritional value, using cells from breast reduction operations.
As part of the strategic agreement between DMV and Wilk, the parties will explore strategic cooperation for the development of formula milk incorporating cultured milk components from human breast milk.
The agreement also stipulates that Danone and Wilk will explore possibilities for joint commercial and operational cooperation, including agreements for joint development and grants for projects in Europe and the US, as stated by Wilk in a statement.
Wilk CEO Tomer Aizen stated that the DMV investment would aid the company in advancing the development of their cultured milk products.
Wilk is one of several Israeli food tech companies developing animal-free cultured milk, each at different stages of development. For instance, Remilk raised $120 million USD last year for its animal-free milk, cheese, and yogurt with established production capabilities. Other investors in Wilk’s funding round include Steakholder Foods, an investment company focusing on food tech, and Coca-Cola Israel.
