The Israeli startup is launching its plant-based whole cuts in the US retail market at independent retailers in Los Angeles and New York City and eyeing an e-commerce launch before the end of the year.
Israel-based agrifoodtech startups have closed just 17 funding rounds since the start of the conflict. Raising some $161 million since October 7, 2023, the total is a 72% drop on the same period the year before, and some 73% fewer deals.
Barcelona-based Heura made its name selling alt meat but has since developed novel texturizing technology that can be applied to everything from cheese to pasta.
At Mosa Meat, says VP global public affairs Robert Jones, “We tightened our belts, we went back to the drawing board on the long-term strategic plan and got more focused.”
Eventually, says Andrew Ive at Big Idea Ventures, “It all shakes out and the less smart money decides to go chase the next opportunity. So we had foodtech, we had crypto, and now we have AI…”
Global demand for seafood is set to soar in the coming years, yet in the first half of 2024 funding was down 40% compared to the first half of 2023.
“These guys have looked at mixing and asked the question: could we do it in a fundamentally different way? And they’ve come up with a solution that is just so disruptive,” says Mondelēz International R&D chief Dr. Ian Noble.
The capital injection will be used to support entry into new markets, expand the product portfolio, scale production, and accelerate R&D.
The firm, which raised a $226m series B round in 2021 when money was cheap and interest in alt proteins was sky-high, has since struggled to navigate a more challenging environment, with investor sentiment souring on meat alternatives amid declining retail sales.
Asked whether he would remain in the CEO role, founder Dr. Oliver Zahn said: “TBD. In line with the commercial trajectory, we will be on the lookout for a strong commercial lead at the exec level, so I can focus on science and vision.”
Existing single-cell suspension stir tank bioreactors “can’t be used to effectively produce non-GM, cultivated muscle and fat,” claims Mission Barns.
“We’re talking about building smaller, smarter facilities with a lot less capital,” says cofounder and CEO Michele Stansfield.
The pair are also exploring using lactose permeate, a byproduct of milk protein production, as a feedstock for Superbrewed Food’s microorganisms, creating a circular solution.
The legal dispute between the animal-free dairy pioneer and co-manufacturer Olon is turning increasingly ugly, with Olon arguing that Perfect Day is presenting “a false narrative” of their deteriorating relationship.
São Paulo-based startup Typcal is seeking to blaze a trail in the Latin American market with mycoprotein which it claims grows more rapidly, on a broader range of feedstocks, than competitive fungi strains.
Blue Tree uses ultrafiltration coupled with adsorption to selectively remove disaccharides such as sucrose, lactose, and maltose from natural beverages such as juice, milk, and beer.
The firm will use the funds to scale up its production process, which it claims uses a fraction of the water and energy used by brands such as Quorn, with lower capital expenditure.
The family feud over who should lead Illinois-based kefir maker Lifeway Foods and how it should be run has heated up again, as key shareholders of the publicly listed business have again called on the CEO and other top executives to resign.
The firm—which makes a yellow, protein-packed ingredient called Solein by feeding microbes elements from the air—is planning to go public via a technical listing on the Helsinki Stock Exchange.
The new funding is from the European Innovation Council (EIC) Accelerator program and additional series A investors.
