Meat-Tech 3D Ltd. (TASE: MEAT), a Ness Ziona, Israel-based developer of industrial-scale cultivated meat production technologies based on advanced 3D bioprinting, closed a $7m funding round.
The round was led by institutional investors Psagot Provident and Pension Funds, with participation from the Mor investment house as well as private investors.
The company intends to use the funds to progress the recently announced Peace Of Meat acquisition, strengthening an important part of its R&D plans and opening up new markets such as that for hybrid products.
Led by CEO Sharon Fima, Meat-Tech is a research and development company aiming to develop commercial and sustainable technologies to manufacture alternative proteins with no need for animal slaughter. Meat-Tech is developing a proprietary bioprinter to deposit layers of cells (including stem cells and differentiated stem cells), scaffolding, and cell nutrients in a three-dimensional form of structured cultured meat, often called “clean meat” or “cultured meat.”