Redefine Meat is an Israeli food tech startup that creates 3D printed plant-based meat. The company has just raised US$29 million in its Series A financing round.
The round was led by Hong Kong-based Happiness Capital and Hanaco Ventures, a New York and Tel Aviv-based fund for Israeli startups, joined by alt protein investor CPT Capital, Losa Group, Sake Bosch and K3 Ventures.
The investment will be used to expand the meat alternatives products portfolio and their commercial launch in several international markets in 2021.
Redefine Meat introduced its first 3D printed non animal steaks in 2020. This year, it is opening a large-scale production facility housing its 3D Alt-Meat printers.
The company plans to launch it's meat-free steaks firstly in Europe, followed by Asia and North America.
The company's proprietary 3D printing technology digitally maps over 70 sensorial parameters into each animal-free analogue. It was developed in collaboration with food scientists, butchers, chefs and food ingredient specialists.
“This funding…was concluded faster and better than we could have imagined a year ago,” said Eshchar Ben-Shitrit, CEO and co-founder of Redefine Meat.
“[It] is a major step towards becoming the world’s biggest alternative meat company by 2030.”
“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."
“We want to change the belief that delicious meat can only come from animals, and we have all the building blocks in place to make this a reality: high-quality meat products, strategic partnerships with stakeholders across the world, a large-scale pilot line under construction, and the first-ever industrial 3D Alt-Meat printers set to be deployed within meat distributors later this year,” he added.