Aleph Farms secures $105m in Series B funding round

Israel-based cultivated beef steak producer Aleph Farms has raised $105m through a Series B funding round to support the launch of its meat products next year.

The round was led by the Growth Fund of private equity firm L Catterton, and DisruptAD, a venture platform in the Middle East.

Skyviews Life Science and a consortium of global food and meat companies such as Thai Union, BRF, and CJ CheilJedang, also participated in the funding round.

Existing investors, including VisVires New Protein, Strauss Group, Cargill, Peregrine Ventures, and CPT Capital, were also participants.

The Israeli firm has so far raised more than $118m.

Aleph Farm plans to use the proceeds for commercialisation of cultivated beef steaks at a global scale, portfolio expansion, scaling up its manufacturing capabilities, growing operations internationally, and expanding its product lines and technology platform.

DisruptAD’s investment in Aleph Farms is also expected to support Abu Dhabi’s long-term focus on food resilience.

Aleph Farms will also evaluate options for establishing its manufacturing plant in Abu Dhabi to supply its cultivated meat products across the UAE and to the Gulf Cooperation Council (GCC) region.

Aleph Farms co-founder and CEO Didier Toubia said: “We are thrilled to grow our relationships with existing partners, and welcome select new investors in this funding round.

“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.”

In another development, Meati Foods, a US-based alternative meat producer, secured $50m through a Series B funding round to reach production capacity and launch products at a national scale next year.

The round was led by new investor BOND, along with Meati’s long-time investor Acre Venture Partners.

Existing investors, including Prelude Ventures, Congruent Ventures, and Tao Capital, also participated in the funding round.