The cultivated meat company has raised $105 million to help the firm achieve large scale global commercialization.
Aleph Farms (Rehovot, Israel), a cultivated meat company that grows streaks from non-genetically modified animal cells, has completed a $105 million Series B funding round. The funding round was led by the Growth Fund of L Catterton, a leading consumer-focused private equity firm, and DisruptAD, one of the largest venture platforms in the Middle East. The Series B funding round also saw participation from Skyviews Life Science, and a consortium of leading global food and meat companies such as Thai Union, BRF, and CJ CheilJedang. Existing investors, including VisVires New Protein, Strauss Group, Cargill, Peregrine Ventures, and CPT Capital also participated.
The funds raised will be used to executed Aleph’s plans for large scale global commercialization of cultivated beef steaks and portfolio expansion. Its near-term milestones include scaling up manufacturing and growing operations internationally, and expanding product lines and its technology platform ahead of initial market launch in 2022. The investment by DisruptAD is strategic, to help bolster Abu Dhabi’s long-term focus of food resilience. As partners, Aleph Farms and DisruptAD will evaluate establishing a manufacturing facility in Abu Dhabi to supply cultivated meat across the United Arab Emirates, and the broader Gulf Cooperation Council region.
“We are thrilled to grow our relationships with existing partners, and welcome select new investors in this funding round,” said Didier Toubia, co-Founder and CEO of Aleph Farms, in a press release. “This additional capital from top-tier partners with unparalleled experience and expertise brings us significantly closer to our vision of providing secure and unconditional access to high-quality nutrition to anyone, anytime, anywhere. We see our investors as partners for building this new category of meat and it was critical to us that they share our strong commitment to improving the sustainability of our global food systems.”
"With cultivated whole-muscle cut steaks, an optimized platform for cost parity at scale, and a global partnership network with the world’s largest meat producers, Aleph Farms has differentiated itself as the leading cultivated meat company poised to go to market,” explains Michael Farello, managing partner at LCatterton’s Growth Fund, in a press release. “We are excited to support their success as they prepare for global launch, and we look forward to leveraging our significant expertise in food and sustainable businesses that meet the needs of a changing consumer and a changing world.”
To date, Aleph Farms has raised over $118 million.