Kinish Secures 490 Million Yen in Series A Funding to Accelerate Rice-Based Dairy Alternative Expansion in Japan and the US
Overview of the Funding
Kinish Inc. has raised 490 million yen in a first close of its Series A funding round through a third-party allotment of shares. The round welcomed INSPiRE Mutualistic Symbiosis Fund 1, Shimadzu Future Innovation Fund (Shimadzu Corporation), Obayashi Corporation, and Canada's Love Veggies Holding Ltd. as participating investors.
About Kinish Inc.
Founded in January 2023 and headquartered in Shibuya, Tokyo, Kinish is a food tech startup dedicated to solving pressing social issues, such as the impact of climate change-driven temperature rises on dairy cow productivity and the environmental burden of raw milk production. Focusing on "rice," a staple deeply familiar to the Japanese palate, the company is advancing the development of dairy alternative products supported by next-generation production technologies.
Purpose of Funding and Future Outlook
Funds raised will be primarily allocated toward the following initiatives:
- Expanding sales of its plant-based ice cream brand, "The Rice Creamery," in both Japan and the United States.
- Accelerating research and development for plant factories and molecular farming.
- Strengthening talent acquisition for management roles and business positions in Japan and the US.
The company has established an office in New York and plans to launch local production and expand distribution channels. On the technological front, Kinish is working on breeding rice varieties with high contents of casein—a type of milk protein—and materializing mass-production methods within plant factories. Notably, trial cultivation using miniature rice plants approximately 20 cm in height has already demonstrated high harvest yields.
List of Investors
- INSPiRE Mutualistic Symbiosis Fund 1
- Shimadzu Future Innovation Fund (Shimadzu Corporation)
- Obayashi Corporation
- Love Veggies Holding Ltd.