Alternative meat company Redefine Meat raises funds through Series A round

Israeli alternative meat company Redefine Meat has raised $29m through a Series A funding round led by Happiness Capital and Hanaco Ventures.

Other investors, including CPT Capital, an early supporter of Redefine Meat; as well as Losa Group, Sake Bosch, and K3 Ventures, also participated in the funding round.

Redefine Meat co-founder and CEO Eshchar Ben-Shitrit said: “We are thrilled to have concluded this round of funding with such a unique and diverse group of highly experienced, professional investors who share our vision.

“This funding, which was concluded faster and better than we could have imagined a year ago, is a major step towards becoming the world’s biggest alternative meat company by 2030.”

The investment will be used by the Israeli firm for a large-scale pilot line, as well as product launches in Europe, followed by Asia and North America.

Redefine Meat said that its patented industrial-scale digital manufacturing technology delivers sustainable plant-based meat products, which are claimed to offer a taste and mouthfeel ‘indistinguishable’ from traditional animal meat.

Happiness Capital CEO Eric Ng said: “We look to find disruptive technology and ambitious leadership teams in industries that can bring real happiness to people and make the world a better place.

“The fast-growing alternative meat sector is one such industry, but there is currently a gap in its ability to meet the needs of people who still want to eat traditional meat.

“Redefine Meat offers a unique solution that appeals to meat-eaters with tasty and sustainable food. With technology that is ready for production and strong strategic partners, Redefine Meat is poised to deliver high-quality meat alternatives that can make a meaningful impact on global meat consumption.”

In July 2020, Redefine Meat launched its Alt-Steak plant-based product using its patent-pending 3D meat printing technology.