Alt-Meat innovator Redefine Meat announces the completion of a USD29m A-series funding round led by Happiness Capital and Hanaco Ventures. They are joined by CPT Capital, a leading alternative protein investor and early supporter of Redefine Meat, as well as other notable new international investors including Losa Group, Sake Bosch, and K3 Ventures, according to a press release.
The investment will be used to expand the company’s meat portfolio and support its commercial launch and international growth in 2021, on the back of the slated completion of a large-scale production facility for Redefine Meat’s industrial 3D Alt-Meat printers set for later this year.
“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,” Eshchar Ben-Shitrit, CEO and co-founder of Redefine Meat said. “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. 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.”
Last month, Redefine Meat announced its first strategic agreement with premium-quality Israeli meat distributor, Best Meister, following the success of the world’s largest blind-tasting of alternative meat co-organised by the two companies, which demonstrated 90% acceptance rate amongst meat eaters.