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February 16, 2021

Israel’s Redefine Meat eyes global launch after funding round win

Redefine Meat, an alt-protein business based in Israel using 3D technology, has announced the results of a series A funding round.

By Leonie Barrie

Redefine Meat , an alt-protein business based in Israel using 3D technology, has raised US$29m in a series A funding round.

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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.

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."

Eric 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.

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Unilever- A Deep-dive into Product Launches and Advertising Strategy

Unilever product advertising is mainly through mainstream TV channels. Out of the products advertised so far at least 50% (over 850) of ads have been run on TV, while print media comes second with 496 ads. Unilever also utilizes social media platforms for advertisement. Unilever products are categorized by innovation ratings and tags in our product launch database. The North American region consists of almost 74 products with innovations related to the formulation of the product. Europe and other regions also have more products categorized under formulation-related innovation, followed by the packaging and positioning of the products. Most Unilever products are tagged with “High Vitamins”, “Recyclable”, and “Natural” tags to understand what the product differentiator is from other products available in the market. The majority of products belong to the personal care industry with a total of 5,788 products to date. This report, through the Unilever Example, illustrates how GlobalData Explorer enables you to:  
  • Track product launches by FMCG companies to get an understanding of the product-level strategies including geographic concentrations, innovation types, product claim, category focus and more
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