New York vegan cheese brand NUMU has announced its Series A funding, co-led by Unovis Asset Management and Clear Current Capital. The funding will be used for marketing, product development, and increased distribution.
NUMU’s first product is vegan mozzarella made with potato starch, soybeans, and coconut oil. It is Kosher and free of nuts and GMOs. The company was founded by Gunars Elmuts, who struggled to find pizzerias that offered non-dairy cheese after going vegan in 2011.
According to NUMU, the cheese melts smoothly, has no aftertaste, and mimics the taste of conventional mozzarella. It is available for foodservice in both shreds and blocks, suitable for pizzas, lasagnas, and sandwiches. The company says it is also working on the development of further cheese products.
The Market For Vegan Cheese
A market report last month revealed that the alt-dairy market was expected to triple in value to $32 billion, with non-dairy cheese a huge driving factor. In June, a study found that animal-free cheese was set to seriously challenge the $240 billion cheese market.
“This is an exciting time for NUMU as we continue to develop the brand and expand our distribution,” said Gunars Elmuts, Founder of NUMU Vegan Cheese. “Thanks to our continued partnership with investors like Unovis and Clear Current, who have extensive experience in the plant-based food space, we are well-positioned to bring NUMU to a much wider audience.”