Cargill Protein, Strauss Group and M-Industry all contributed to a series A round for cell-based meat developer Aleph, based on research at Technion– Israel Institute of Technology.
Aleph Farms, a Israel-based meat creation technology developer based on research at Technion – Israel Institute of Technology, raised $12m on Tuesday from investors led by venture capital fund VisVires New Protein.
Meat distributor Cargill Protein, food producer Strauss Group and food and homecare product supplier M-Industry also took part in the round, as did Peregrine Ventures, CPT Capital, Jesselson investments, New Crop Capital and Technion Investment Opportunity Fund.
Aleph is working on a technique that will allow meat to be grown directly from animal cells, using a natural process that enables cows to generate muscle tissue. It will put the funding into product development as it looks to commercialise its slaughter-free meat.
The company was formed in 2017 within incubator The Kitchen to commercialise research by Prof Shulamit Levenberg. Technion co-founded the business.
The round comes after $2.25m in funding from The Kitchen, Peregrine Ventures, CPT Capital and New Crop Capital in 2017, according to Forbes, which had placed the precise size of the round at $11.7m before Aleph made an official announcement.
– A version of this article first appeared on our sister site, Global Corporate Venturing.
