FDBusiness.com

First Slaughter-free Meat Start-up to Grow Steaks Raises $12 Million

 Breaking News
  • C&C Group Increases Revenue by 187.3% to over €1.5 Billion C&C Group, the UK and Ireland drinks production and distribution business, increased net revenue by 187.3% to €1.575 billion in 12 months ended 28 February 2019, reflecting the acquisition of Matthew Clark and Bibendum from the administrators of Conviviality Group in April 2018. Excluding Matthew Clark and Bibendum, and on a constant currency basis, net [...]...
  • 2 Sisters Accelerates Business Transformation 2 Sisters Food Group has announced a series of actions as part of its accelerating transformational strategy to turnaround the business. The company is making further investments in its UK Poultry and Fox’s Biscuits businesses, and is proposing to reduce the number of its UK Poultry sites in order to produce shorter, more efficient supply [...]...
  • Morrisons to Introduce Plastic-free Fruit and Veg Areas to Help Customers Buy Bagless Morrisons is to become the first British supermarket to roll-out plastic free fruit and veg areas in many of its stores. Customers will be able to choose from up to 127 varieties of fruit and veg – and buy them loose or put them in recyclable paper bags. The move follows a ten-month trial in three [...]...
  • Continued Growth by Marston’s Marston’s, a leading British pub operator and independent brewer, has reported a 4.7% rise in underlying revenue to £553.1 million for the 26 weeks ended 30 March 2019, reflecting strong growth in its brewing business, the contribution from new openings and pub acquisitions and positive like-for-like sales in its pub businesses. Underlying operating profit at [...]...
  • UK Ethical Food and Drinks Sales Hit £8.2 Billion British consumers are increasingly eating with a conscience as latest research from Mintel reveals that last year the nation spent £8.2 billion on ethical food and drink, including organic, Fairtrade, Rainforest Alliance and Marine Stewardship Council (MSC) certified products. Over the past five years, sales of ethical food and drink have shot up by 43% [...]...

First Slaughter-free Meat Start-up to Grow Steaks Raises $12 Million

First Slaughter-free Meat Start-up to Grow Steaks Raises $12 Million
May 16
10:31 2019

Aleph Farms, co-founded by The Kitchen Hub, the first company to grow real meat cuts directly from cattle cells, has raised US$12 million in series A investments. This new influx of support includes a blend of classic venture capitalists and strategic partners. It is led by VisVires New Protein (VVNP), Singapore; with Cargill Protein, USA; and M-Industry – the industrial group of Migros, Switzerland, as new investors. Existing investors also joining this round include Strauss Group, Israel; Peregrine Ventures, Israel; CPT Capital, UK; Jesselson investments, Israel; New Crop Capital, USA and Technion Investment Opportunity Fund, Israel.

Aleph Farms’ unique non-GMO technology, co-developed with Professor Shulamit Levenberg of the Technion – Israel Institute of Technology, relies on a natural process occurring in cows to regenerate and build muscle tissues. The company 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. Consumers are not willing to compromise on taste, which is the driving force behind this startup’s goal to create, juicy, delicious steaks without harm to animals or the environment.

The injection of capital will allow Aleph Farms to accelerate product development of its slaughter-free meat and to transform Aleph’s prototype (released last December) into a commercial product. Its cultured meat will grow in large, clean bio-farm facilities similar to a dairy facility.

“This round has been highly successful and includes diverse food companies and VCs from multiple regions around the world,” says Matthieu Vermersch, Founder and Managing Partner of VisVires New Protein. “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.”

Key concerns of the meat industry and regulators include sustainability of meat production, antibiotics resistance, and food-borne illnesses. Aleph Farms and other cell-based meat startups are providing new tools to address those challenges and to feed the growing world population without harming any animals.

“We will be part of the long-term solution,” declares Didier Toubia, Co-Founder and CEO of Aleph Farms. “We intend to lead an open dialog 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. We welcome the collaboration with the USDA and FDA as an opportunity to promote transparency and build trust with all stakeholders.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • June 18, 2019Multimodal 2019
  • June 25, 2019BevExpo 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements