Redefine Meat raises USD 29 Mn to commercialize 3D Alt-Meat printers

By Nikita Chaurasia  | Date: 2021-02-17

Redefine Meat raises USD 29 Mn to commercialize 3D Alt-Meat printers

According to reliable sources, Israel-based alt-meat start-up, Redefine Meat, raised a total of USD 29 million in a Series-A funding round led by venture capital firms Hanaco Venture Capital Ltd. and Happiness Capital Ltd. The funding also saw participation from early investor CPT Capital, Singapore-based K3 Ventures Pte Ltd, founder, and managing partner of Prime Ventures- Sake Bosch, as well as family investment company Losa Group.

If reports are to be believed, the funds will be utilized to expand the company’s meat portfolio while accelerating the roll-out and commercialization of its industrial 3D Alt-Meat printers in international markets this year. The organization will leverage the investments to set up a large-scale pilot line before launching its highly anticipated 3D printed meat substitutes.

As claimed by Redefined Meat, its patented industrial-scale digital manufacturing technology is capable of fully replicating the structure of traditional animal meat for delivering a high-quality, sustainable plant-based product with indistinguishable taste. The ink used in the 3D printer contains proteins from grains and legumes for replicating the muscle textures of alternative meats.

Eshchar Ben-Shitrit, Co-founder and CEO of Redefine Meat, was reported saying that the company is thrilled to have successfully concluded a funding round that included a diverse and unique group of highly experienced investors. This investment came in early and better than anticipated, marking a significant milestone in the company’s path towards becoming the world’s biggest alternative meat manufacturer by 2030, he added.

It is to be noted that Redefine Meat had recently announced a strategic collaboration with Israeli meat distributor Best Meister for the commercialization and supply of its products to butchers and restaurants in the country. This alliance comes along the heels of a successful blind-tasting of the company’s alternative meat which demonstrated an acceptance rate of 90% among meat-eaters.

The company plans on gradually entering the markets in North America, Asia, and Europe by the end of the year, cited credible sources.

Source credits –

https://www.prnewswire.com/news-releases/redefine-meat-raises-29m-round-led-by-happiness-capital-and-hanaco-ventures-ahead-of-global-market-launch-301228377.html

 

About Author

Nikita Chaurasia     aeresearch.net

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More >>

More News By Nikita Chaurasia

Pacific Island pushes Japan to delay wastewater release from Fukushima

Pacific Island pushes Japan to delay wastewater release from Fukushima

By Nikita Chaurasia

Pacific Island nations have reportedly pushed Japan to postpone the release of Fukushima nuclear power plant wastewater due to concerns that it may pollute fishing grounds. An appeal was made on Wednesday when Japan announced that treated sewage f...

Activist groups take Danone to court over excessive use of plastics

Activist groups take Danone to court over excessive use of plastics

By Nikita Chaurasia

Danone, the French bottled water and yogurt firm, is reportedly being sued in court by three environmental activists’ groups for failing to cut its plastic footprint significantly. According to the groups, the maker of Evian and Volvic miner...

Bosch expands security with dashcams designed for rideshare drivers

Bosch expands security with dashcams designed for rideshare drivers

By Nikita Chaurasia

Bosch, the German technology company, has reportedly expanded its security footprint in the ridesharing market with the launch of its latest security dashcams. At CES 2023, Las Vegas, the German tech firm unveiled a new integrated smart camera on ...

Australia: PM Albanese denies potential $450M payout to Rio Tinto

Australia: PM Albanese denies potential $450M payout to Rio Tinto

By Nikita Chaurasia

Australia's Prime Minister Anthony Albanese has reportedly denied rumors that Rio Tinto and its partners could receive a $450 million settlement for the Gladstone power station, which would bring the total compensation for the coal price limit to...

UK: Firms still struggle with post-Brexit trading and red tape

UK: Firms still struggle with post-Brexit trading and red tape

By Nikita Chaurasia

Businesses in the UK are still reportedly grappling after two years following the beginning of post-Brexit trading, as suggested by a new report. According to the British Chambers of Commerce (BCC), firms are still battling increased red tape and ...