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Kraft Heinz-backed venture fund invests in vegan cheese startup New Culture

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.