REHOVOT, ISREAL — Redefine Meat raised $29 million in a Collection A funding spherical led by Happiness Capital and Hanaco Ventures.
Based in 2018, Redefine Meat creates animal-free meat utilizing proprietary industrial 3D printers. The startup makes use of its digital manufacturing expertise to create whole-muscle cuts of different beef with the style, texture and look of steak.
Funds from the Collection A spherical will go towards the development of a large-scale pilot line and product launch in Europe and can help the corporate’s enlargement in North America and Asia.
“This funding, which was concluded quicker and higher than we may have imagined a yr in the past, is a serious step in direction of changing into the world’s largest different meat firm by 2030,” stated Eshchar Ben-Shitrit, co-founder and chief government officer of Redefine Meat.
The funding comes on the heels of Redefine Meat’s first strategic settlement with Finest Meister, an Israeli premium meat distributor, which is able to distribute the corporate’s different meat merchandise commercially to Israeli eating places and butchers within the first half of 2021.
“We wish to change the assumption that scrumptious meat can solely come from animals,” Mr. Ben-Shitrit stated. “We now have all of the constructing blocks in place to make this a actuality: high-quality meat merchandise, strategic partnerships with stakeholders internationally, a large-scale pilot line beneath building, and the first-ever industrial 3D Alt-Meat printers set to be deployed inside meat distributors later this yr.”
Becoming a member of Happiness Capital and Hanaco Ventures within the Collection A spherical have been CPT Capital, Losa Group, Sake Bosch, and K3 Ventures.
“We glance to seek out disruptive expertise and bold management groups in industries that may convey actual happiness to individuals and make the world a greater place,” stated Eric Ng, CEO of Happiness Capital. “The fast-growing different meat sector is one such trade, however there’s at the moment a niche in its capability to fulfill the wants of people that nonetheless wish to eat conventional meat. Redefine Meat gives a novel resolution that appeals to meat-eaters with tasty and sustainable meals.”