Sector News

Meat bioprinting firm Meat-Tech 3D secures $7m in funding

November 6, 2020
Consumer Packaged Goods

Israeli cultured meat start-up, Meat-Tech 3D, has raised $7 million in a funding round led by Psagot Provident and Pension Funds.

The company is working to create industrial-scale, sustainable technologies to manufacture cultivated meat.

Meat-Tech 3D is developing a bioprinter to produce structured cultured meat by depositing layers of cells, scaffolding and cell nutrients in a three-dimensional form.

In addition to Psagot Provident and Pension Funds, the round also included investments from the More Investment House as well as private investors.

“We thank our investors for their confidence in the company’s activities and vision,” said Meat-Tech CEO, Sharon Fima.

“The investment round enables us to progress the recently announced Peace Of Meat acquisition, strengthening an important part of our R&D and opening up new markets such as that for hybrid products.”

Gat Megiddo, VP of investments at Psagot, added: “The Investment in Meat-Tech aligns with our investment strategy focusing on high impact companies, companies which we believe have great economic potential, as well as a potentially huge contribution to the environment.

“Meat-Tech has made impressive progress with its development pipeline, in addition to the strategic acquisition that the company is working to complete. The acquisition promotes a foothold in the global protein alternatives market which is showing great momentum.”

Meat-Tech 3D announced its acquisition of cultured fats developer Peace Of Meat (then unnamed) last month.

By Antonia Garrett Peel

Source: foodbev.com

comments closed

Related News

March 24, 2024

Aldi’s new flat and stackable wine bottles “make light work of heavy shopping baskets”

Consumer Packaged Goods

Collaborating with Packamama, Aldi has rolled out the “UK’s first” supermarket own-brand flat wine bottles within its Chapter & Verse label. The recyclable ergonomic packaging concept is made from 100% recycled PET (rPET) and available for shiraz and chardonnay options.

March 24, 2024

Health, sustainability, and a taste for adventure drive snacking behaviors: Mondelēz State of Snacking report

Consumer Packaged Goods

For the fifth year in a row, global consumers expressed a preference for snacking over traditional meals, with six in 10 consumers saying they’d rather eat several small meals throughout the day than a few large ones, according to the fifth annual State of Snacking report from Mondelēz International. Nearly nine in 10 (88%) consumers snack daily.

March 24, 2024

Shareholders challenge Nestlé to increase sales of healthy foods

Consumer Packaged Goods

The shareholders are urging Nestlé to set a target to boost the proportion of its sales from healthier products amid concerns regarding regulatory, reputational and legal risks faced by the company, as well as the public health implications “associated with an over-reliance on less healthy foods”.

How can we help you?

We're easy to reach