11th November 2020 Content supplied by: Meat-Tech 3D Ltd
Israeli Meat-Tech 3D Ltd Secures $7 Million Funding to Boost Production of 3D-printed Lab Meat
On 3 November 2020, Meat-Tech 3D Ltd., a developer of alternative cultivated meat technologies based on advanced 3D bioprinting, announced that it closed a funding round of $7 million.
Meat-Tech 3D’s goal is to develop commercial and sustainable technologies to manufacture alternative proteins without animals. The company is developing a proprietary bioprinter to deposit layers of cells (including stem cells and differentiated stem cells), scaffolding, and cell nutrients in a three-dimensional form of structured cultured meat, often called "clean meat" or "cultured meat."
The investment was led by Psagot Provident and Pension Funds, and included the Mor investment house and private investors.
Meat-Tech's CEO Sharon Fima commented: "We thank our investors for their confidence in the company's activities and vision. The investment round enables us to progress the recently announced Peace Of Meat acquisition, strengthening an important part of our R&D and opening up the market of hybrid products."
Gat Megiddo, VP of Investments at Psagot, stated: "The Investment in Meat-Tech aligns with our strategy focusing on high-impact companies with great economic and environmental potential. Meat-Tech has made impressive progress with its development pipeline. The Peace Of Meat acquisition secured a foothold in the global protein alternatives market which is showing great momentum."
Date Published: 11th November 2020
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