ExclusiveRedefine Meat raising $250 million to expand 3D-printed animal-free meat substitutes
Redefine Meat raising $250 million to expand 3D-printed animal-free meat substitutes
The Israeli startup raised $135 million just four months ago to fund production lines in Israel and the Netherlands as it builds on the development of its technology that replicates the texture, flavor, and eating experience of beef and other high-value meat products
Israeli startup Redefine Meat, which produces 3D-printed animal-free meat substitutes, is working on a $250 million funding round to support its growth locally and globally. Calcalist has learned that Bank of America is heading the process, with Redefine Meat representatives currently holding meetings with potential investors across the world as it closes on the completion of the round.
Redefine Meat raised $135 million just four months ago to fund production lines in Israel and the Netherlands, as well as expand its partnerships. That round was led by venture capital fund Hanaco Ventures and Synthesis Capital, a UK-based fund focused on food tech. With this latest round, Redefine Meat is set to take its total funding over its past three rounds to $430 million.
Redefine Meat has developed patent-pending technology that replicates the texture, flavor, and eating experience of beef and other high-value meat products. The company uses plant-based ingredients and technology as opposed to animals, allowing for a more efficient, sustainable, and ethical way to produce meat without compromising on the experience.
Redefine Meat has collaborated with butchers and technologists to map more than 70 types of sensorial parameters suitable for mimicking the ideal steak. These include texture, fat, juiciness, and tenderness. Then, using plant-based ingredients, it prints each layer using a proprietary industrial-scale 3D food printer. The results are its Alt-Steak products, which aim to replicate the properties of actual beef.