50 million US dollars for artificial cheese

Formo closes its Series A funding round and now plans to expand its cheese range.

Berlin-based cheese start-up Formo has successfully closed its Series A funding round. The company was able to raise 50 million US dollars, as reported by the US news service Bloomberg . EQT Ventures led the round, and other participants include Elevat3 Capital and Lowercarbon Capital.

Formo is working on a method to make cheese without cow's milk. The company extracts milk proteins from microorganisms. These proteins form the cheese base from which Formo currently produces mozzarella and ricotta. With the new funding, it now plans to add cheddar and gruyere cheeses to its lineup. "We want to open up the focus and really make sure we can cover pretty much every type of cheese you can imagine," Formo founder and CEO Raffael Wohlgensinger told Bloomberg.

Initially, Formo is aiming to launch in Singapore, with Israel, the Middle East and eventually Europe to follow. The startup sees big opportunities in Asia in particular. Formo cheese contains no lactose, which accommodates the widespread lactose intolerance there.