Israeli 3D meat printer company Redefine Meat has today announced the completion of a $6 million seed round led by CPT Capital and with the participation of Hanaco Ventures, PHW Group Germany's largest poultry company, and leading Israeli angel investors. Redefine Meat will use the investment to finalize the development of its revolutionary alternative-meat 3D printer, which will be launched next year.
Redefine Meat is developing animal-free meat using proprietary industrial 3D printers. Founded in 2018, Redefine Meat has developed patent-pending technology that uses plant-based ingredients to replicate the texture, flavor, and eating experience of beef and other high-value meat products.
Redefine Meat cofounder and CEO Eshchar Ben-Shitrit said, "Our goal is not just to develop a new food product, but to introduce a new technology for developing, producing and scaling alt-meat products. We have already successfully printed great products for multiple foodie events, and over the coming 12 months, we will take the technology to the next level where we expect to make a huge impact on the meat market and the future of our planet. We're delighted to have secured this investment, and to be working with high-quality investors, who share our vision and can support Redefine Meat on its path to become an industry leader."
"Redefine Meat is a great fit with our portfolio of companies that are working to replace animals in the food supply chain." said Costa Yiannoulis, the CPT Capital Investment Director who joins the Redefine Meat board. "We are excited to partner with a company that leverages decades of digital printing experience to offer a fresh look at the way that meat will be produced. From very early on, it was clear that their unique approach has tremendous merits and has already produced some of the highest quality alternative meat products that we have ever encountered."
Collaborating with leading chefs and butchers, Redefine Meat has already demonstrated various 3D-printed alt-meat products that are indistinguishable from animal meat, but are 100% plant-based, delicious and dramatically more sustainable and affordable.
"We've been following Redefine Meat closely for almost a year as part of a major strategic move in agri-food investments," said Pasha Romanovski, Hanaco Ventures founding partner. "They have a unique position in a massive market, but what made us invest is the sheer progress and speed of this dedicated team."
PHW Group CEO Peter Wesjohann said, "There is currently no other company that has demonstrated such an impressive development in the field of 3D printed meat. The PHW Group sees Redefine Meat as a strategic investment, especially regarding the future product development for the European market and our broad distribution network."
Published by Globes, Israel business news - en.globes.co.il - on September 11, 2019
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