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Israeli startup SuperMeat raises $3m for lab-grown chicken

FBR Staff Writer Published 04 January 2018

Israeli biotech and food-tech startup SuperMeat has raised $3m in seed funding to bring its clean chicken products to market in the very near future.

The seed round financing was led by New Crop Capital, a US-based venture capital fund, and Stray Dog Capital, which is focused in providing capital to vegan businesses.

Like Stray Dog Capital, New Crop Capital is also focused on investing in more sustainable food systems. In the past, both the venture capital providers had supported companies engaged in the alternative protein field that include Beyond Meat and SunFed.

SuperMeat plans to use the money to introduce its clean chicken products to market, priced on par with the currently available conventional chicken products.

SuperMeat said that its clean meat is produced by extracting cells from chicken and growing them in conditions that enable them to thrive and form high-quality chicken cuts.

SuperMeat co-founder and CEO Ido Savir said: “We’re proud that SuperMeat is at the forefront of the rapidly-evolving clean meat industry.

“Our team is comprised of a diverse group of top-tier scientists, food engineers and chefs, working together with the best production experts from the pharmaceutical industry to create a new generation of meat products that are sustainable, cost-efficient, animal-friendly, and of course - delicious.”

The start-up has also partnered with Germany-based poultry producer PHW, which became its equity investor.

PHW-Gruppe CEO Peter Wesjohann said: “We at PHW have time and again left the beaten path in conducting our business. This approach not only facilitates the development of best-in-class animal welfare concepts in our core poultry business, but will also lead to the strengthening of our vegan product portfolio, confirming our leading role in the global consumer trend towards a cleaner, more protein-rich diet.”

Savir added that the partnership with PHW will help SuperMeat to introduce its sustainable meat products across Europe and outside of it.

Image: SuperMeat’s clean meat is made by using cells extracted from chicken and growing them in a lab. Photo: courtesy of Piyachok Thawornmat/FreeDigitalPhotos.net.