This week, Israeli plant-based startup Redefine Meat raised $29 million to help commercialize its 3D-printed vegan meat. Founded in 2019, Redefine Meat uses a revolutionary 3D technology that maps 70 sensorial parameters to create a cut of vegan meat that mimics the taste, texture, and juiciness of a beef steak. Redefine Meat created individual plant-based components, Alt-Muscle, Alt-Fat, and Alt-Blood, that its industrial 3D printer turns into Alt-Steak. “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.”
The new investment—which will also be used to build out Redefine’s plant-based meat portfolio—builds on a $6 million seed funding round that Redefine raised in 2019 led by CPT Capital, Hanaco Ventures, PHW Group (Germany’s largest poultry company), and Israeli angel investors.
Bringing 3D vegan meat to market
Earlier this year, Redefine entered a strategic partnership with meat distributor Best Meister to host an event—called “There’s a new meat in town.” Held in a small town in Israel, the event featured a food truck wrapped in traditional “carnivore” branding and served traditional meat-centric Mediterranean dishes without initially informing customers that the meat component was vegan.
The event sold 1,000 servings of Redefine’s meat in five hours with 90-percent of customers expressing that they were satisfied with the revelation that they were consuming plant-based meat stating that it was comparable to animal-derived meat in taste, texture, and mouthfeel. The success of the event solidified a partnership between Redefine Meat and Best Meister, which will distribute vegan Alt-Meat to high-end butcher shops and restaurants across Israel later this year.
“We want to change the belief that delicious meat can only come from animals, and we have all the building blocks in place to make this a reality: high-quality meat products, strategic partnerships with stakeholders across the world, a large-scale pilot line under construction, and the first-ever industrial 3D Alt-Meat printers set to be deployed within meat distributors later this year,” Ben-Shitrit said.