Redefine Meat, an alt-protein business based in Israel using 3D technology, has raised US$29m in a series A funding round.
The plant-based business said the funds will be used for a large-scale pilot project and for commercial product launches in Europe, Asia and North America. This will follow the planned completion of a production facility for the company’s industrial 3D alt-meat printers later this year.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The funding round was led by Hong Kong-based Happiness Capital and US- and Israel-based Hanaco Ventures. They were joined by CPT Capital, an alternative-protein investor and early supporter of Redefine Meat, as well as other new investors including Losa Group, Sake Bosch, and K3 Ventures.
Eshchar Ben-Shitrit, CEO and co-founder of Redefine Meat, said: “We are thrilled to have concluded this round of funding with such a unique and diverse group of highly experienced, professional investors who share our vision.
"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."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataEric Ng, CEO of Happiness Capital, said: "Redefine Meat offers a unique solution that appeals to meat-eaters with tasty and sustainable food. 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."
Last month, Redefine Meat, founded in 2018, announced a strategic agreement with Israeli meat distributor Best Meister following a blind-tasting of alternative-meat products co-organised by the two companies which demonstrated a 90% acceptance rate amongst meat eaters.
