The Venture Codex

Participated · Series B · Sep 2024

Formo is a Berlin-based fermentation startup that makes animal-free cheeses using Koji protein as the primary ingredient. Its production uses micro fermentation—harvesting Koji proteins without genetic modification—allowing it to avoid novel-food regulatory hurdles and sell products immediately. The company launched two SKUs (Frishchain cream-style spread €2.89 and Camembritz Brie-style €3.99) in more than 2,000 REWE, BILLA and METRO stores in Germany and Austria and currently produces about 100 tons per month. Formo plans to scale production to 1,000 tons per month by early 2025 and expand to other European markets and beyond. Future plans include moving into precision fermentation and gene editing to produce milk proteins such as casein to enable meltable hard cheeses; feta-style and blue cheeses are also in the pipeline. The company highlights sustainability benefits (claims of 65% fewer emissions, 83% less land use, and 96% less water versus dairy cream cheese) and says early reception has been strong with a view to reach net profitability relatively soon. Formo is Europe’s first cellular agriculture company developing animal-free dairy products using nature-identical milk proteins produced via precision fermentation. Founded in 2019 and based in Berlin, the startup domesticates microorganisms instead of cows to create cheeses that match the taste, texture, and functional properties of animal-derived products. The company highlights that microorganisms can be up to 20 times more efficient than cows at converting feed into food, which it says supports environmental and cost advantages. Formo plans to use its recent funding to build a pilot plant, fast-track commercial-scale production, and expand its molecular biology and food science teams. With increased R&D capacity, the company intends to broaden its product portfolio to include European dairy specialties such as mozzarella and ricotta, developing techniques in collaboration with artisan cheesemakers. Formo positions its technology as a way to reduce the environmental, human health, and animal welfare costs of traditional dairy production.

Participated · Series A · Oct 2023

ECOMMIT builds resource-circulation infrastructure and operates eight nationwide circular centers and logistics hubs while running PASSTO, a consumer-facing collection, sorting and re-use/recycle service. PASSTO has expanded to more than 4,500 collection points and achieves approximately a 98% reuse/recycle rate for collected clothing. The company has an in-house traceability system that digitizes material flows and reports reuse rates and CO2 reductions to support corporate and municipal sustainability initiatives. Through its Series B and a capital and business tie-up with Mercari, ECOMMIT plans to expand PASSTO locations, digitize (DX) its circular centers, support apparel and other circular-economy companies, and leverage data for new value creation. The Mercari partnership aims to integrate collection and reflow operations with Mercari’s platform, build collection schemes with brands and municipalities, and improve user experience by linking real and digital channels. ECOMMIT says it will continue to advance the Series B round to fund growth and broader social implementation of a "no-waste" society. ECOMMIT operates a circular-commerce business that collects, sorts, and re‑markets unwanted goods, aiming to "realize a society that does not throw things away." The company runs seven proprietary circulation centers and a self‑developed traceability system that quantifies reuse/recycle rates and CO2 reductions for partners. It has developed the PASSTO brand — an end‑to‑end collection, sorting, and reflow system — and plans to expand PASSTO placements and partner integrations. ECOMMIT will invest proceeds in equipment, system development, hiring, and branding to increase collection volumes and build out accessible local collection infrastructure. The company also plans a Kanto region circulation center with automated sorting and to pursue expansion into Asian markets. In the near term it will use quantified environmental contribution data to strengthen services and accelerate partnerships with companies and municipalities.