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May 14, 2019

Cell meat company Aleph Farms backed in new investment round

Israel-based slaughter-free meat firm Aleph Farms, which is attempting to create steak in a lab, has announced funding news.

By Leonie Barrie

Israel-based slaughter-free meat firm Aleph Farms has raised US$12m in a Series A funding round.

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Investment into the business, which creates meat in a laboratory from cells, was led by VisVires New Protein (VVNP) from Singapore, with US agri-food giant Cargill, and Switzerland’s M-Industry, part of the Migros Group, as new investors.

Existing investors also joining this round included Strauss Group, Peregrine Ventures, Jesselson investments and Technion Investment Opportunity Fund, all from Israel, CPT Capital from the UK and New Crop Capital from the US.

Aleph Farms, which announced in December it had created the first steak in a laboratory from animal cells, has developed what it describes as “non-GMO technology” with Professor Shulamit Levenberg of the Technion – Israel Institute of Technology.

It relies on a natural process occurring in cows to regenerate and build muscle tissues. The company said it has discovered a way to isolate the cells responsible for that process and grow them outside of the animal to form the same muscle tissue typical to steaks.

Aleph Farms said the new injection of capital will allow it to accelerate product development of its meat and to transform its steak prototype into a commercial product. 

Didier Toubia, co-founder and CEO of Aleph Farms, said: “We intend to lead an open dialogue with farmers and food and feed producers. In addition, we continue to work closely with the regulators to ensure our products will be completely safe, healthy and properly labelled.”

Matthieu Vermersch, founder and managing partner of VisVires New Protein, said: “This is a vote of confidence in Aleph Farms’ leading 3D technology and its capabilities for growing real beef steaks. Strategic partners from the food industry are important because we need to build a sustainable ecosystem for cultured meat.”

Aleph Farms was co-founded in 2017 by Israeli food-tech incubator The Kitchen, a part of the Strauss Group, and the Technion. 

Read: Eyeing alternatives – meat companies with stakes in meat-free

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img

Innovation Update Q2 2022: Meat and Meat Alternatives

Meat alternatives continue to push boundaries, as companies explore 3D printed, plant-based, and precision fermentation-based alternatives. As a result, shoppers are more open to experimental formulations that introduce new flavors to meat products, blur traditional food categories, or swap in new ingredient types. It is vital for their development that retailers acknowledge this range of emerging trends during these increasingly uncertain times. Brands must continue to understand how consumer needs and desires change, and offer a range of products that reflect the world around them, therefore developing purchasing and consumption decisions. Exciting non-traditional formulations are hitting the market - following the trajectories and target audiences of these launches will help other brands find their niche. Consult our report on Meat and Meat Alternatives, from the collection of >17,000 reports on GlobalData Explorer, to:  
  • Understand the current market dynamics of the Meat and Meat Alternatives Sector
  • Assess strategies implemented by companies to better penetrate the market
  • Understand the key themes in the market that these companies and their respective products appear to be targeting
  • Marketing / Advertising strategies being used by these players for specific products
  • Other segment-specific analysis (packaging, design, flavors etc.)
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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