- Redefine Meat offers a new class of plant-based meat, utilizing the world's first patent-pending 3D meat printing solution
- CPT Capital and Hanaco Ventures to join the company's board
TEL AVIV, Israel, Sept. 11, 2019 /PRNewswire/ -- Redefine Meat has announced today the completion of a $6 million seed round led by CPT Capital, joined by Israel-based Hanaco Ventures, Germany's largest poultry company The PHW Group, and leading Israeli angel investors. Redefine Meat will use the investment to finalize the development of its revolutionary alternative-meat 3D printer, that will be released during 2020.
Redefine Meat was founded in 2018 fueled by growing concern over the sustainability of the meat industry, the ability to meet food requirements of the world's growing population, and compassion for animals. Redefine Meat's mission is to offer a superior meat production technology that delivers products that are indistinguishable from high quality animal meat. In addition, the use of 3D printing to produce alternative meat products will enable the creation of a highly productive and flexible 21st-century supply chain that is dramatically more sustainable than current animal factory farming and meat processing.
The company is developing a comprehensive solution that combines a proprietary semi-industrial 3D digital printing platform - in fact, one of the world's fastest 3D printers, a 3D meat modeling system and plant-based food formulations. The solution delivers a new category of complex matrix "meat" that is both delicious and craveable, while also being cost effective and scalable.
"Redefine Meat is a great fit with our portfolio of companies that are working to replace animals in the food supply chain." said Costa Yiannoulis, the CPT Capital Investment Director and new director of the Redefine Meat Board. "We are excited to partner with a company that leverages decades of digital printing experience to offer a fresh look at the way that meat will be produced. From very early on, it was clear that their unique approach has tremendous merits and has already produced some of the highest quality alternative meat products that we have ever encountered."
Redefine Meat's animal-free meat comprises natural and sustainable ingredients that deliver the same appearance, texture and flavor of animal meat used for steaks, roasts and stews. The breakthrough technology will also enable meat distributors and
retailers to design the characteristics of their meat to cater for seasonality, changing demands and consumers preferences with "printed meat" that is 100% predictable and replicable. Redefine Meat products have a 95% smaller environmental impact than animal meat, no cholesterol, and are cost-effective.
Collaborating with leading chefs and butchers, Redefine Meat has already demonstrated various 3D-printed alt-meat products that are indistinguishable from animal meat, but are 100% plant-based, delicious and dramatically more sustainable and affordable.
"We've been following Redefine Meat closely for almost a year as part of a major strategic move in agri-food investments," said Pasha Romanovski, Hanaco Ventures founding partner. "They have a unique position in a massive market, but what made us invest is the sheer progress and speed of this dedicated team."
According to, Peter Wesjohann, CEO PHW Group: "There is currently no other company that has demonstrated such an impressive development in the field of 3D printed meat. the PHW Group sees Redefine Meat as a strategic investment, especially regarding the future product development for the European market and our broad distribution network."
"Our goal is not just to develop a new food product, but to introduce a new technology for developing, producing and scaling alt-meat products. We have already successfully printed great products for multiple foodie events, and over the coming 12 months, we will take the technology to the next level where we expect to make a huge impact on the meat market and the future of our planet. We're delighted to have secured this investment, and to be working with high-quality investors, who share our vision and can support Redefine Meat on its path to become an industry leader," said Eshchar Ben-Shitrit, Co-Founder and CEO at Redefine Meat.
About Redefine Meat
Redefine Meat is leading a technological revolution in the food industry by creating craveable animal-free meat using proprietary industrial 3D printers. Founded in 2018, Redefine Meat has developed patent-pending technology that replicates the texture, flavor, and eating experience of beef and other high-value meat products. The company uses plant-based ingredients and technology as opposed to animals, allowing for a dramatically more efficient, sustainable and moral way to produce meat without compromising on the experience. Redefine Meat's alt-meat is 95% more sustainable, significantly healthier and costs less than beef.
www.redefinemeat.com
About CPT Capital
CPT Capital is the venture arm of private equity pioneer Jeremy Coller's private family office. As a long-standing dedicated investor in the alternative protein space, they partner with the best and the boldest companies driving the food and materials technology revolution. From plant-based protein to recombinant proteins to cell-based meat, they back the most promising solutions from seed all the way through to sale or IPO, and longer term.
www.cptcap.com
About Hanaco Ventures
Hanaco Ventures is a NY and Tel Aviv based Venture Capital fund that invests in the most promising start ups from the Israeli ecosystem. Hanaco partners with Israeli companies, wherever they are in the world, helping them become category leaders beloved by their customers.
www.hanacovc.com/
About PHW Group
The core business of the PHW Group with headquarters in Rechterfeld (Germany) is the production and distribution of high-quality poultry products, including the well known "WIESENHOF" brand. The company has been a key leader in animal welfare improvements for more than two decades with the goal to increase the share of the German production under an animal welfare program to around 80% by the end of 2019. In 2018 the "Alternative Protein" business unit was established. As part of the Alternative Proteins strategy of PHW to develop into a protein company, a number of high-profile strategic partnerships and investments were completed, including Beyond Meat, SuperMeat, Good Catch Foods, JUST, AIXA Trade and Enterra Feed Corporation.
https://www.phw-gruppe.de/
Redefine Meat Media Contact:
Incus Media
Ben Dodson
Tel: +44-1737-215200
ben.dodson@incus-media.com
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