Redefine Meat One Step Closer To Selling 3D Alt-Meat Worldwide After Raising $29M

Israel-based food startup Redefine Meat announced Tuesday that it raised $29 million and the company will use the proceeds to finance its commercial launch and international growth.

What Happened: Redefine Meat leverages 3D printing technologies to print high-quality, sustainable plant-based meat products.

In January, the company held the world's largest blind taste test and said it found a 90% acceptance rate among meat eaters.

Redefine Meat is on a mission to prove that delicious meat doesn't have to come from animals. Backed by the world's first-ever industrial 3D Alt-Meat printer, the company said it's ready to conquer the Israeli market after signing a strategic agreement with a local meat distributor, Best Meister.

Related Link: 3D-Printed Vegan Steaks Are Real — And Coming Soon

"We are thrilled to have concluded this round of funding with such a unique and diverse group of highly experienced, professional investors who share our vision," Eshchar Ben-Shitrit, CEO and co-founder of Redefine Meat, said in a statement.

"This funding, which was concluded faster and better than we could have imagined a year ago, is a major step towards becoming the world's biggest alternative meat company by 2030."

Why It's Important: Eric Ng, CEO of Happiness Capital and a Redefine Meat investor, said the alternative meat maker offers a solution that appeals to meat eaters. 

"With technology that is ready for production, and strong strategic partners, Redefine Meat is poised to deliver high-quality meat alternatives that can make a meaningful impact on global meat consumption," Ng said. 

What's Next:Redefine Meat said its successful funding round concluded "faster and better" than the company could have imagined.

It also marks a step toward the company's goal of "becoming the world's biggest alternative meat company by 2030."

Courtesy photo.