3D printed meat alternative producer, Redefine Meat, has raised $29 million in Series A funding as it prepares for its global market launch.
Israel-based Redefine Meat uses patented industrial-scale digital manufacturing technology to produce plant-based meat products which it claims deliver a taste and mouthfeel ‘indistinguishable’ from traditional animal meat.
The company’s latest funding round was led by Happiness Capital and Hanaco Ventures, with participation from new international investors including Losa Group, Sake Bosch and K3 Ventures. They were joined by CPT Capital, which previously backed the firm in its seed funding round.
Redefine Meat will use the new funds to expand its portfolio, and support its commercial launch and growth internationally.
“This funding, which was concluded faster and better than we could have imagined a year ago, is a major step towards becoming the world’s biggest alternative meat company by 2030,” said Eshchar Ben-Shitrit, CEO and co-founder of Redefine Meat.
Eric Ng, CEO of Happiness Capital, added: “With technology that is ready for production and strong strategic partners, Redefine Meat is poised to deliver high-quality meat alternatives that can make a meaningful impact on global meat consumption.”
A large-scale production facility for Redefine Meat’s industrial 3D alt-meat printers is set for completion later this year.
Ben-Shitrit continued: “We want to change the belief that delicious meat can only come from animals, and we have all the building blocks in place to make this a reality: high-quality meat products, strategic partnerships with stakeholders across the world, a large-scale pilot line under construction and the first-ever industrial 3D alt-meat printers set to be deployed within meat distributors later this year.”
© FoodBev Media Ltd 2020
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