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NYA Ventures and Nàdarra Ventures led the round, with participation from Bluestein Ventures, Builders VC, Congruent Ventures and Verdex Capital. AuX plans to use the money to commercialize its vegan cheese product, which uses microbreweries’ microbial strains and fermentation processes. (TechCrunch)
Talking point: AuX aims to solve two problems with its product. The first problem: Vegan cheese is often gross. To make it more appealing, AuX replicates a milk protein called casein, which is responsible for non-vegan cheese’s melt and stretch. The second problem: Microbreweries aren’t trendy any more. The market is saturated, with nearly 10,000 of them in the U.S., and people aren’t drinking as much as they used to since the COVID-19 pandemic. AuX gives microbreweries a new revenue stream, and the startup doesn’t have to buy fermenting equipment. Vegan cheese and craft beer: Feta together, cheddar than expected.
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