08 July 2021 | News
The firm will use this investment to innovate, scale and grow its operations internationally
Image Source: Aleph Farm
Aleph Farms, the Israel-based cultivated meat company growing steaks directly from non-genetically modified animal cells, has announced the completion of a $105 million Series B funding round.
The funding round was led by the Growth Fund of L Catterton, the largest global consumer-focused private equity firm, and DisruptAD, one of the largest venture platforms in the Middle East. It also saw participation from Skyviews Life Science, as well as a consortium of leading global food and meat companies including Thai Union, BRF, and CJ CheilJedang. Additionally, existing investors, including VisVires New Protein, Strauss Group, Cargill, Peregrine Ventures, and CPT Capital, participated in the Series B funding round. To date, the Company has raised more than $118 million.
The Company will use the funds to execute its plans for large scale global commercialization of cultivated beef steaks and portfolio expansion. Near-term milestones include scaling-up manufacturing, growing operations internationally, and expanding its product lines and technology platform ahead of Aleph Farms' initial market launch in 2022. The Company is currently working with regulatory agencies on its plans for market entry.
DisruptAD's investment in Aleph Farms will also help bolster Abu Dhabi's long-term focus on food resilience. As a strategic partner to DisruptAD, Aleph Farms will evaluate the establishment of a manufacturing facility in Abu Dhabi to supply its cultivated meat products across the UAE and the broader GCC region.