# Change Foods

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/change-foods

- Industry: Food
- Headquarters: Palo Alto, US
- Website: www.changefoods.com
- Total disclosed funding: $14M
- Latest round: Seed (Feb 7, 2022)
- Investors on record: 13

## About

Change Foods, Inc. is a pioneering company focused on creating animal-free dairy products using precision fermentation technology, offering sustainable alternatives to traditional dairy.Founded in 2019, Change Foods, Inc. operates from Palo Alto, US, specializing in innovative dairy alternatives. The company was established by CEO David Bucca, who previously founded other ventures in the food sector. Change Foods has successfully completed 5 funding deals, with the latest being a Seed round of USD 12.17 mn on February 7, 2022, led by Route 66 Ventures and supported by various investors including Better Bite Ventures and Blue Horizon Ventures. The total amount raised by the company amounts to USD 12.17 mn, which aligns with its latest funding round valuation of USD 45.52 mn.Change Foods specializes in producing animal-free dairy products through the innovative process of precision fermentation. The company's core offerings include real dairy proteins, fats, and flavors that replicate traditional dairy products such as cheese, yogurt, and ice cream without the use of cows. By utilizing specific microbes, encoded with dairy protein DNA sequences, these microbes are cultivated in fermentation tanks where they metabolize plant-based nutrients. This process results in the production of proteins identical to those found in dairy milk, which are then processed to create dairy alternatives that mimic the taste and texture of conventional dairy. Change Foods primarily serves consumers who are health-conscious, environmentally aware, and those seeking alternatives to traditional dairy, with an emphasis on sustainability. Their products are marketed in various geographical markets, including North America and Europe, with plans for further expansion into regions such as the UAE.Change Foods generates revenue through the sale of its precision-fermented dairy products to both direct consumers and business-to-business (B2B) clients, including retailers and food service providers. The company has established partnerships with major distributors to facilitate the reach of its flagship products, which include cheese made without cows. While specific pricing structures are not disclosed, the business model incorporates direct sales to retailers, where products are positioned in the specialty food and health food sections. This transactional framework allows Change Foods to capitalize on the growing demand for plant-based alternatives and sustainable food solutions. As the company expands its operational footprint and product offerings, it aims to enhance its revenue streams through strategic collaborations and distribution agreements.Change Foods plans to utilize the USD 12.17 mn raised in its Seed funding round to accelerate product development and rapidly scale up its cheese production and distribution capabilities. The company is actively designing new dairy alternative products and targets to expand its market presence into the UAE by the end of 2023. Recent funding will support these initiatives, allowing for enhanced production capacity and market outreach.

## Funding rounds

- Seed, Feb 7, 2022, $12M — Orkla ASA, Plug and Play, Route 66 Ventures, Clear Current Capital, Upfield, GreenGen Ventures, Blue Horizon Ventures, Sigma Alimentos, S.A de C.V., Better Bite Ventures, Giant Leap
- Seed, Jun 16, 2021, $2.1M — Canaccord Genuity, Plug and Play, Purple Orange Ventures, Clear Current Capital, Better Bite Ventures, Gerber-Rauth

## Investors

- Canaccord Genuity (https://capitalatlas.ai/funds/canaccord-genuity) — Seed
- Plug and Play (https://capitalatlas.ai/funds/plug-and-play) — Seed
- Purple Orange Ventures (https://capitalatlas.ai/funds/purple-orange-ventures) — Seed
- Clear Current Capital (https://capitalatlas.ai/funds/clear-current-capital) — Seed
- Better Bite Ventures (https://capitalatlas.ai/funds/better-bite-ventures) — Seed
- Gerber-Rauth (https://capitalatlas.ai/funds/gerber-rauth) — Seed
- Orkla ASA — Seed
- Route 66 Ventures (https://capitalatlas.ai/funds/route-66-ventures) — Seed
- Upfield — Seed
- GreenGen Ventures (https://capitalatlas.ai/funds/greengen-ventures) — Seed
- Blue Horizon Ventures — Seed
- Sigma Alimentos, S.A de C.V. — Seed
- Giant Leap (https://capitalatlas.ai/funds/giant-leap) — Seed