Israel-based meat creation technology developer Aleph Farms has raised $12m from investors including meat distributor Cargill Protein, food producer Strauss Group and food and homecare product supplier M-Industry.
Venture capital fund VisVires New Protein led the round, which also featured Peregrine Ventures, CPT Capital, Jesselson investments, New Crop Capital and Technion Investment Opportunity Fund.
Aleph is working on a technique that will allow meat to be grown directly from animal cells, using a natural process that enables cows to generate muscle tissue. It will put the funding into product development as it looks to commercialise its slaughter-free meat.
The company was formed in 2017 within incubator The Kitchen, and its technology was co-developed by Professor Shulamit Levenberg at the Technion – Israel Institute of Technology.
The round comes after $2.25m in funding from The Kitchen, Peregrine Ventures, CPT Capital and New Crop Capital in 2017, according to Forbes, which had placed the precise size of the round at $11.7m before Aleph made an official announcement.
Photo courtesy of Aleph Farms Ltd.
