Israeli cell-cultured steak pioneer Aleph Farms today announces the completion of a $105 million Series B funding round. The funding was bolstered by leading global meat companies including Thai Union, the world’s largest tuna processor which has become increasingly active in alt protein investment and development, as well as existing investor Cargill.
“We see our investors as partners for building this new category of meat “
The company behind the world’s first cell-cultured ribeye steak has now raised more than $118 million to date. The round was led by the Growth Fund of L Catterton and DisruptAD, one of the largest venture platforms in the Middle East, with participation from Skyviews Life Science, a consortium of leading global food and meat companies including Thai Union, BRF, and CJ CheilJedang and also from existing investors, including VisVires New Protein, Strauss Group, Cargill, Peregrine Ventures, and CPT Capital.
With global meat giants increasingly looking to diversify into both the cell-cultured and plant-based spheres, Aleph Farms can benefit from their investment to scale up manufacturing and grow operations internationally ahead of the initial market launch in 2022 of its sustainable beef steak cultivated from non-genetically modified animal cells. The round was co-led by DisruptAD, part of Abu Dhabi’s sovereign fund, with plans in place for a manufacturing facility to supply the UAE and the broader GCC region.
“We are thrilled to grow our relationships with existing partners, and welcome select new investors in this funding round,” commented Didier Toubia, Co-Founder and CEO of Aleph Farms.
Elizabeth Gutschenritter, Managing Director of Cargill Global Alternative Protein, commented: “At Cargill, our purpose is to feed the world’s population in a safe, responsible, sustainable way. Doing so requires innovation, which is why we continue to invest in Aleph. We are pleased to see them take this next step toward providing consumers with expanded protein options and advancing sustainable approaches.”
Thiraphong Chansiri, President and CEO of Thai Union, said: “As the world’s population grows, it is more important than ever to deliver sustainably-sourced proteins that meet increased nutritional demands, and we believe that companies like Aleph Farms have a vital role to play in this. We’re very pleased to be participating in this round of funding and are looking forward to working with them to fulfill their vision.”
“This additional capital from top-tier partners with unparalleled experience and expertise brings us significantly closer to our vision of providing secure and unconditional access to high-quality nutrition to anyone, anytime, anywhere. We see our investors as partners for building this new category of meat and it was critical to us that they share our strong commitment to improving the sustainability of our global food systems,” added Toubier.
