Rami Levy invests in 3D print meat co Meat-Tech

Rami Levy  / Photo: Shlomi Yosef
Rami Levy / Photo: Shlomi Yosef

The Israeli company has raised NIS 20 million from investors to develop cultured meat for 3D printing.

Israeli cultured meat developer Meat-Tech (TASE: MEAT) announced today that it had completed a NIS 20 million private placement from several investors including Rami Levy (through a private company), Israeli meat importer Adom, and institutional investors including Mor Investments, Psagot, Clal, Meitav, and private investors, some of them in the US.

The company said that the new funds will enable the company to list on Nasdaq. Meat-Tech also signed its first-ever commercial deal with Adom, to promote its products on international markets.

Following the announcement, Meat-Tech's share price rose over 10%, giving the company a market cap of NIS 200 million. The new funds were raised at NIS 3 per share, a 10% discount on last night's closing price. In addition, investors in the private placement also received warranties that can be exercised for NIS 3.95 in the next three years.

Meat-Tech is developing cultured meat produced by in-vitro cell cultures taken from cows without doing any damage to livestock. Meat-Tech's product is still in the development stage and the company hopes that with its new funding it can 3D print meat tissue by the end of 2020 including sinew, blood cells, fat, gristle etc., which produces a similar texture to meat.

Alternative meat is a popular sector for investors worldwide in recent years, boosted by concerns for the environment and the belief that the meat industry will be unable to satisfy the world's growing population. Beyond Meat's investors have double their investment since the company's IPO inMay 2019.

Rami Levy said, "We stand at the dawn of a new era in the food sector generally and the meat sector in particular with the entry of advanced technology for the production of cultured meat. I see the uniqueness of Meat-Tech, which plans printing meat slices and will become a major player in this important global race."

Published by Globes, Israel business news - en.globes.co.il - on June 1, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Rami Levy  / Photo: Shlomi Yosef
Rami Levy / Photo: Shlomi Yosef
David Amsalem  credit  Noam Moskowitz, Knesset Spokesperson's Office Rafael to pay state NIS 444m dividend

The minister in charge of the Government Companies Authority, David Amsalem, has approved the payment by the defense company.

Barak MX air defense system  credit: IAI IAI profit jumps 55%

Israel Aerospace Industries posted a net profit of $493 million for 2024, and ended the year with an all-time high orders backlog of $25 billion.

A TSG system in tactical use  credit: PR TSG signs cooperation agreement with US defense co

The agreement includes the integration of TSG's advanced technologies into sensor-based defense systems, which will be integrated into the operational systems of US defense units.

Bria CEO Yair Adato credit: Kseniia Poliak Israeli visual generative AI co Bria raises $40m

Bria’s Visual Generative AI platform empowers businesses to create predictable, controllable, and on-brand content that aligns with their visual language.

Amnon Shashua and Aviram Ziv credit: Eyal Izhar OrCam stymied by investor dispute with Shashua

Demands by institutional investors are blocking the visual and hearing impairment device developer's recovery plan.

Work on the Green Line credit: Bar Lavi Egged wins tender to operate TA light rail Purple, Green Lines

NTA awarded the tender to Egged, which already operates the Red Line, despite government ministry opposition to one operator for the entire network.

Gabi Seroussi illustration: Gil Gibli Board chooses Seroussi as IAI chair as Erdan freezes candidacy

Israel Aerospace Industries board chose Gabi Seroussi as chair even though he did not to go through the preliminary process of the Government Companies Authority appointments review committee.

Bavli Park penthouse credit: Eyal Tagar Tel Aviv Park Bavli penthouse sells for NIS 43m

A 44th floor penthouse in one of the two towers in businessman Yitzhak Tshuva's Park Bavli project has been bought by an Israeli businessperson.

El Al aircraft  credit: Yoav Yaari El Al pilots receive nearly NIS 250,000 bonus each

Thanks to the agreements signed with the unions in 2018, El Al's employees as well as senior management share in last year's success.

Pentera CEO Amitai Ratzon credit: Eyal Izhar Israeli security validation co Pentera raises $60m

Pentera's platform enables security teams to analyze complete attack paths, identify root causes, and prioritize remediation for effective risk reduction.

Tel Aviv credit: Shutterstock Supply of unsold new homes hits record

Israel's real estate market is sliding into recession with 78,000 unsold new apartments in January, the Central Bureau of Statistics reports.

D&B chairman Doron Cohen and Meitar partner Dan Geva Meitar reclaims title of Israel's biggest law firm

Meitar has first place with 537 lawyers, followed by Herzog Fox Neeman with 512 lawyers, according to the latest Dun's 100 rankings.

First International Bank of Israel CEO Eli Cohen  credit: Eyal Toueg First Int'l posts top return on equity

First International Bank of Israel's return on equity in 2024 was 19%, the highest among Israel's banks.

Dina Ben Tal Ganancia  credit: Guy Kushi & Yariv Fein El Al almost quintuples profit

The airline posted a net profit of $545 million for 2024, 4.7 times the profit in 2023, and an all-time high.

Gev Hadari credit: Nati Hortig Sompo Israel appoints Gev Hadari as cybersecurity head

Hadari's expertise spans penetration testing, including Red Team operations, web applications, mobile applications, OT/IOT products, and both external and internal assessments.

Attack drones credit: Shutterstock IDF issues tender for 5,000 Israeli-made attack drones

Critics of the tender say the number being procured is insufficient and thewre are security concerns about Chinese components.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018