Redefine Meat: Plant-Based Steaks & Future of Food

Redefine Meat Secures $29 Million in Funding

Redefine Meat, an Israeli startup pioneering a novel approach to plant-based protein production, has received a significant investment. Their technology focuses on creating plant-based alternatives that closely replicate the texture and characteristics of premium beef cuts.

Investment Details

The company successfully raised $29 million in a financing round. This funding comes from Happiness Capital, the investment division of Hong Kong’s Lee Kum Kee condiment family, and Hanaco Ventures, a firm supporting startups in both New York and Israel.

Growing Interest in Plant-Based Foods

The plant-based food sector is experiencing substantial growth, fueled by the success of companies like Beyond Meat and Impossible Foods. These companies have established partnerships with major food service brands, including Pepsico, McDonald’s, and Burger King.

Addressing the Steak Challenge

While companies have excelled at creating plant-based patties, replicating the experience of a whole-muscle cut of steak has proven difficult. Producing a plant-based ribeye, sirloin, or rump steak with authentic texture remains a key technical challenge.

Redefine Meat's Approach

Redefine Meat believes it has developed manufacturing processes capable of formulating plant-based steak alternatives. Their method aims to overcome the limitations of existing plant-based meat products.

Competition in the Plant-Based Steak Market

They are not alone in this pursuit. Novameat, a Barcelona-based startup, secured approximately $300,000 in funding earlier this year for its own plant-based steak technology. Novameat’s funding originated from the NEOTEC Program of the Spanish Center for Industrial Technological Development.

Leveraging 3D Printing Technology

Both Redefine Meat and Novameat are utilizing 3D printing technologies to create meat substitutes. This approach focuses on mimicking the complex structure and texture of steaks, rather than simply replicating patties or ground meat.

Additional Investors

A range of other investors are also supporting Redefine Meat’s development. These include Losa Group, Sake Bosch, and K3 Ventures.

Future Plans

The newly acquired funding will be used to expand the company’s product portfolio and facilitate the commercial launch of its offerings. Redefine Meat intends to have a large-scale production facility for its 3D printers operational before the year’s end.

Strategic Partnerships and Growth

In January, Redefine Meat announced a strategic partnership with Israeli distributor Best Meister. The company is also actively expanding its team, currently employing around 40 individuals.

Company Vision

Eschar Ben-Shitrit, CEO of Redefine Meat, stated the company’s goal is to challenge the notion that delicious meat requires animal agriculture. He highlighted the company’s progress, including high-quality products, strategic alliances, a pilot production line, and the upcoming deployment of industrial 3D Alt-Meat printers.