07.07.21
Aleph Farms, a cultivated meat company growing steaks directly from non-GMO animal cells, and the first of its kind to do so aboard the International Space Station, recently announced the completion of a $105 million Series B funding round. The funding round was led by the Growth Fund of L Catterton, a global consumer-focused private equity firm, and DisruptAD, a venture program in the Middle East. It also saw participation from Skyviews Life Science, Thai Union, BRF, and CJ CheilJedang. Existing investors also participating included VisVires New Protein, Strauss Group, Cargill, Peregrine Ventures, and CPT Capital. To date, the company has raised more than $118 million.
The company will utilize the new funds to execute plans for its large-scale global commercialization of cultivated beef steaks, as well as for expanding its portfolio of products. 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 bolster Abu Dhabi’s long-term focus on food resilience, the company said. As its partner, Aleph Farms will evaluate the establishment of a manufacturing facility in Abu Dhabi to supply cultivated meat products across the United Arab Emirates and the broader Gulf Cooperation Council (GCC) region.
“We are thrilled to grow our relationships with existing partners, and welcome select new investors in this funding round,” Didier Toubia, co-founder and CEO of Aleph Farms, said. “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 is 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,” Michael Farello, managing partner at L Catterton’s Growth Fund, said. “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.”
Those speaking on behalf of DisruptAD, the company’s first Israel-based partner, expressed similar enthusiasm about their involvement in this stage of Aleph Farms’ market entry.
“Our partnership with Aleph Farms underpins our long-term desire to accelerate the path for technology pioneers and change leaders that are building technologies of tomorrow,” Mansour AlMulla of DisruptAD said.
“Our belief is that the future of food will be built around evolved consumer choices and a redressal of climate concerns, with Aleph playing a central role in shaping this agenda across global markets. We are delighted to partner with them,” Mayank Singhal, speaking on behalf of DisruptAD, added.
The company will utilize the new funds to execute plans for its large-scale global commercialization of cultivated beef steaks, as well as for expanding its portfolio of products. 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 bolster Abu Dhabi’s long-term focus on food resilience, the company said. As its partner, Aleph Farms will evaluate the establishment of a manufacturing facility in Abu Dhabi to supply cultivated meat products across the United Arab Emirates and the broader Gulf Cooperation Council (GCC) region.
“We are thrilled to grow our relationships with existing partners, and welcome select new investors in this funding round,” Didier Toubia, co-founder and CEO of Aleph Farms, said. “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 is 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,” Michael Farello, managing partner at L Catterton’s Growth Fund, said. “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.”
Those speaking on behalf of DisruptAD, the company’s first Israel-based partner, expressed similar enthusiasm about their involvement in this stage of Aleph Farms’ market entry.
“Our partnership with Aleph Farms underpins our long-term desire to accelerate the path for technology pioneers and change leaders that are building technologies of tomorrow,” Mansour AlMulla of DisruptAD said.
“Our belief is that the future of food will be built around evolved consumer choices and a redressal of climate concerns, with Aleph playing a central role in shaping this agenda across global markets. We are delighted to partner with them,” Mayank Singhal, speaking on behalf of DisruptAD, added.
