Aleph Farms, an Israeli cultivated meat company that grows steaks directly from non-genetically modified animal cells, has announced the completion of a $105 million Series B funding round. The round was led by the Growth Fund of L Catterton, a consumer-focused private equity firm, and DisruptAD, one of the largest venture platforms in the Middle East. To date, it brings its total funding to $118 million.
Launched by EU Funding programme Horizon Europe, the funding is the groups biggest package of support covering plant-based, cultivate meat and fermentation to date. The multi-annual EU funding framework, which will run from 2021 to 2027, contained three projects directly covering this area and followed and open letter from the Good Food Institute Europe and 21 other organisations that called on the European Commission to invest in sustainable protein research and development.
Cultured Decadence, a Madison, Wis.-based cellular agriculture company, closed its $1.6M pre-seed financing. Backers included Bluestein Ventures, Joyance Partners, Revolution’s Rise of the Rest Seed Fund, gener8tor, GlassWall Syndicate, Bascom Ventures, and China-based Dao Foods.
Food tech-focused firm Finistere Ventures announced today the launch of its Finistere Aotearoa Fund done in partnership with New Zealand Growth Capital Partners. The $40 million NZD (~$28.1 million USD) fund will support early-stage companies developing technologies for agriculture, alternative protein, supply chain, and other areas of food tech.
Florida-based venture capital firm Clear Current Capital announces its new impact fund focusing on early stage investments in US companies in the plant-based food, cell-cultured meat and fermented food spaces, as well as other mission-aligned enterprises. Fund ll expands the mission of Clear Current Capital, by creating additional resources focused on environmental sustainability, animal cruelty, and large-scale industrial food, as well as providing climate, health, and food transparency solutions.
Australian startup Nourish Ingredients, which makes plant-based fats, announced today that it has raised $11 million (USD) in initial funding. The round was led by Horizon Ventures and Main Sequence Ventures (a venture firm founded by Australia’s national science agency).
MeaTech received net proceeds from this offering of approximately $21.9 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by MeaTech. MeaTech intends to use the net proceeds from this offering to advance its program to develop commercial technologies to manufacture alternative foods, including potential acquisitions of other companies whose technologies are complementary or synergistic to its own, and for general corporate purposes, including working capital requirements.
Dutch cultured meat startup Meatable announced today that it has raised a $47 million Series A round of funding. Investors include Dr. Rick Klausner, Section 32, Dr. Jeffrey Leiden, and DSM Venturing, with participation from existing investors including BlueYard Capital, Agronomics, Humboldt, and Taavet Hinrikus. This brings Meatable’s total funding raised so far to $60 million.
Bluu Biosciences has raised €7 million in a round of financing from investors including Manta Ray Ventures, Norrsken VC, Be8, CPT Capital and Lever VC to compete with a host of startups like BluNalu, Wild Type and Shiok Meats in a bid to market with a lab-grown fish replacement.
The company is picking up speed quickly thanks to those other technology providers that are coming to market and will look to have a prototype product out by the end of 2022.
Companies developing sustainable meat and dairy alternatives smashed records with a €2.6B ($3.1B) haul last year. Why has it been such a bumper harvest?
In spite of the financial chaos resulting from the Covid-19 pandemic over the last 12 months, a staggering €2.6B ($3.1B) in funding went to companies in the meat and dairy alternatives sector, according to the nonprofit the Good Food Institute (GFI). This tripled 2019’s total.
Developers of plant-based alternatives reaped the lion’s share with €1.8B ($2.1B); biotechs producing protein via fermentation took a neat €497M ($590M); and more than €303M ($360M) backed companies developing cultured meat.