Aleph Farms Ltd., an Ashdod, Israel-based startup producing real meat cut from cow-cells, raised US$12M in series A funding.
The round was led by VisVires New Protein; with Cargill Protein, USA; and M-Industry – the industrial group of Migros, Switzerland, as new investors. Existing investors in the round included Strauss Group, Israel; Peregrine Ventures, Israel; CPT Capital, UK; Jesselson investments, Israel; New Crop Capital, USA and Technion Investment Opportunity Fund, Israel.
The company intends to use the funds to accelerate product development of its meat and to transform its prototype into a commercial product.
Co-founded by Israeli food-tech incubator The Kitchen Hub and Didier Toubia, CEO, Aleph Farms is a slaughter-free meat startup that grows steaks in large, clean bio-farm facilities similar to a dairy facility.
The company’s non-GMO technology, co-developed with Professor Shulamit Levenberg of the Technion – Israel Institute of Technology, uses a natural process occurring in cows to regenerate and build muscle tissues. It discovered a way to isolate the cells responsible for that process and grow them outside of the animal to form the same muscle tissue typical to steaks.