Yissum, though its investment fund Agrinnovation, has contributed to a seed round for one of its portfolio companies, Future Meat Technologies.

Future Meat Technologies, an Israel-based meat production spinout from Hebrew University,  raised $2.2m in a seed round yesterday that featured Agrinnovation, an investment fund owned by the institution’s tech transfer office Yissum.

Tyson Ventures, the corporate venturing arm of food producer Tyson Foods, co-led the round, though Future Meat did not specify who the other co-leading investor was.

Food conglomerate Neto Group also participated in the round, as did S2G Ventures, BitsXBites and HB Ventures.

Future Meat Technologies is developing technology to produce non-genetically modified meat directly from animal cells without the need to raise or harm animals.

The technology is based on research conducted by Yaakov Nahmias, professor of bioengineering. Nahmias now serves as chief scientist officer of Future Meat.

The money will allow the spinout to establish engineering activities and boost its biological research. The spinout is also in the process of recruiting engineers, scientists and chefs.

Nahmias said: “It is difficult to imagine cultured meat becoming a reality with a current production price of about $10,000 per kilogram.

“We redesigned the manufacturing process until we brought it down to $800 per kilogram today, with a clear roadmap to $5-$10 per kilogram by 2020.”

Yaron Daniely, president and CEO of Yissum, said: “Hebrew University, home to Israel’s only Faculty of Agriculture, specialises in incubating applied research in such fields as animal free meat sources.

“Future Meat Technologies’ innovations are revolutionising the sector and leading the way in creating sustainable alternative protein sources.”