Tokyo-based startup Kinish has raised $3m in the first close of its Series A round. Investors include INSPiRE Mutualistic Symbiosis Fund 1, Shimadzu Future Innovation Fund, Obayashi Corporation, and Canada’s Love Veggies Holding Ltd.

Kinish develops dairy alternatives made from rice. Its near-term product, a plant-based ice cream called The Rice Creamery, sells in about 500 stores across Japan. Longer term, it is engineering rice plants to express casein through molecular farming.

The funding will expand sales of The Rice Creamery in Japan and the US, fund research into vertical farming and molecular farming, and support hiring. Kinish has opened a New York office to grow local production, retail distribution, and brand awareness.

Photo: Kinish