Following a successful Indiegogo campaign which raised $230,000 in pre-orders for SuperMeat’s products, the Israeli startup for developing chicken meat in a lab, has raised $3 million in seed funding.
The round was led by US-based venture capital fund New Crop Capital and mission-oriented VC firm Stray Dog Capital. The company has also formed a strategic partnership with PHW, one of Europe’s largest poultry producers, and an equity investor in the company.
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The Tel-Aviv-based SuperMeat growing cells that have been painlessly extracted from a chicken. The cells are then grown in conditions that allow them to thrive, forming high-quality chicken cuts.
Israeli startup offer real chicken meat without killing even one tiny chick
According to the comapny, this process puts an end to the industrial need to mass produce animals for slaughter, while eliminating exposure to animal waste and food-borne illnesses; the potential benefits for public health and animal welfare are therefore considerable.
A research conducted by Oxford and Amsterdam Universities, switching to clean meat will allow a reduction of up to 98% in greenhouse gas emissions, 99% in land exploitation, and up to 96% in water usage.
With the recently secured funding, SuperMeat expects to bring its clean chicken products to market in the very near future, at a price point similar to the conventional chicken products currently available on store shelves.
Commenting on the new partnership with SuperMeat, PHW-Gruppe’s 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.
“We’re proud that SuperMeat is at the forefront of the rapidly-evolving clean meat industry,” said Ido Savir, co-founder and CEO of the company.”