29 September 2021 | News
Joins hands with Thai Union and South Korea-based CJ CheilJedang
Image credit: shutterstock
Israel-based Aleph Farms, the cultivated meat company growing steaks directly from animal cells that are not genetically engineered and not immortalized, has signed Memorandums of Understanding (MOUs) with two of Asia's largest food companies, global protein leader Thai Union and global food and lifestyle company CJ CheilJedang.
As part of these agreements, Thai Union and CJ CheilJedang will help to accelerate Aleph's scale-up, go-to-market activities and elevate distribution of cultivated meat in existing marketing channels across the APAC region.
Aleph's recent $105 million Series B funding round was led by L Catterton, the largest global consumer-focused private equity firm, and DisruptAD, ADQ's venture platform, and included participation from Temasek, a global investment company headquartered in Singapore.
Asia is leading the global food industry in supporting and adopting cell-cultured meats. Singapore is the first country in the world to approve cultivated meat and to offer it on a restaurant menu. Cultured chicken had its global debut in Asia, a region of the world that, while vulnerable to food insecurity and struggling with scarcity of natural resources, is also seeing increased meat consumption thanks to rising income, growing populations and increased urbanization.