The Kraft Heinz Co.-backed venture capital fund Evolv Ventures led a $3.5 million funding round for San Francisco-based biotechnology startup New Culture, which makes animal-free dairy cheese.
Other investors who participated in the funding round were Bee Partners, Mayfield, CPT Capital, Boost VC and SOSV, according to a Sept. 10 release.
New Culture produces its dairy cheese products through fermentation of plant-based fats, sugars, and the traditional cheese-making process.
The startup will remain in the San Francisco Bay Area as it seeks to establish a research and development facility while also expanding its team.
