‘Disruption of the cow’: Foodtech startup ready to take on European markets.

This post is also available in: Danish

At Aarhus-based food startup PlanetDairy, Jakob Skovgaard, Jesper Colding and Paul Cornillon have developed green alternatives to traditional dairy products by replacing part of the milk with plant ingredients or proteins from fermentation.

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The idea came when Jakob was presented with the report “Disruption of the cow”, which predicted that precision fermentation would make it possible to produce dairy products without using cows.

“We’ve started with some products that taste good and work as they should, even though they are hybrid products with a 50/50 mix of plant and dairy ingredients. Our philosophy is that over time you will be able to make it with fewer and fewer cows and therefore lower and lower CO2 emissions. But what we can do today is the first step on the journey,” says Jakob Skovgaard, CEO and co-founder of PlanetDairy in a Press release.

Climate bond ensures stability for growth

So far, the startup’s cheeses are available in around 1,000 stores in Denmark, but as early as May 2024 they will also be available in ICA in Sweden, where PlanetDairy has been accepted into a special program for promising foodtech startups.

“The program provides special conditions and some support for demos and marketing, among other things. This is the first flag we will have outside the Danish border. The first products have been produced, we have foil with Swedish text and will hit the stores very soon.”

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But growing a startup requires capital, so PlanetDairy got the first investors on board in a funding round, and at the end of 2023, EIFO entered the picture with a guarantee for an overdraft facility.

Frederik Dalgaard Jensen, Director, Agri & Food EIFO, says that they see potential in the Aarhus-based startup:

“PlanetDairy is a great example of an innovative company that creates a more sustainable alternative to a traditional product. At EIFO, we work strategically to support new, green technologies with venture capitalFuel for startups' rocket ride. Venture capital is pro investors who create pool funds to seek innovation, and to mentor. It is high risk, high reward journeys.... More, and we want to support the opportunity to save CO2 by supplementing the animal part with a plant part. This is a strong team with extensive experience from the dairy sector that has developed some innovative products and we look forward to following their growth journey.”