Kinish, a Tokyo-based food technology start-up, has successfully raised ¥120 million (approximately $1 million) in seed funding to advance its innovative approach to dairy alternatives. The funding round was led by prominent investors including Genesia Ventures, Lifetime Ventures, Full Commit Partners and Mitsubishi UFJ Capital.
Kinish aims to revolutionise the dairy industry by employing plant molecular agriculture to produce milk proteins within rice. This approach seeks to mitigate the environmental impacts associated with traditional livestock farming, particularly the greenhouse gas emissions and significant water usage linked to dairy cows.
The start-up's mission aligns with growing global concerns over food sustainability and environmental degradation.
The dairy sector is under scrutiny for its contribution to climate change, with dairy cows generating methane – a greenhouse gas 28 times more potent than carbon dioxide. As a result, there is increasing interest in plant-based dairy alternatives that can reduce ecological footprints while maintaining taste and functionality.
The funds raised will be allocated to several key areas:
Development of casein-producing rice: Kinish plans to enhance its research on developing a special rice variety capable of producing casein, a primary milk protein. This initiative aims to transition from experimental phases to commercial-scale cultivation.
Plant factory research and development: In partnership with Shizuoka University, Kinish is exploring the cultivation of dwarf rice – an innovative, 20 cm tall variety – in plant factories. This method aims to address agricultural challenges posed by climate change while minimszing greenhouse gas emissions from rice cultivation.
Marketing initiatives: The company intends to leverage its expertise in creating alternative dairy products to develop and market rice-based ice cream, initially targeting the Japanese and US markets. The goal is to raise awareness of the potential of rice as a sustainable ingredient.
Kinish's CEO, Hiroya Hashizume, noted the importance of balancing culinary enjoyment with environmental responsibility. “We believe that 'small moments of excitement' are essential to human life, and delicious food plays a key role in that,” he said, expressing gratitude for the support from venture capital firms, acknowledging their alignment with Kinish's mission to promote sustainable and enjoyable food options.
Investors have expressed confidence in Kinish's potential to address critical food production challenges. Takashi Sogabe from Genesia Ventures highlighted the startup's capability to produce a low-cost alternative milk that meets societal needs for sustainable food solutions.
Ryosuke Kimura of Lifetime Ventures noted Kinish’s scientific expertise and global applicability, while Yudai Yamada from Partners Fund praised the company’s unique approach to leveraging Japan’s rice culture.
