'Clean meat' start-up raises $3 million in funding round

by Staff
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SuperMeat chicken
SuperMeat plans to make ‘clean’ poultry products from chicken cells.
 

TEL AVIV, ISRAEL — Biotech and food tech start-up SuperMeat raised $3 million in a seed funding round led by venture capital firms.

SuperMeat products are made by growing cells extracted from chickens. The company expects to use the funding to bring its products to market at a price point competitive with conventionally produced chicken cuts.

Ido Savir, SuperMeat
Ido Savir, co-founder and c.e.o. of SuperMeat

“We’re proud that SuperMeat is at the forefront of the rapidly-evolving clean meat industry,” said Ido Savir, co-founder and chief executive officer. “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.”

In addition to the funding round, SuperMeat announced a partnership with PHW, a leading poultry producer in Rechterfeld, Germany, that markets chicken, turkey and duck products under the Wiesenhof brand. Peter Wesjohann, c.e.o. of PHW-Gruppe, said the company’s equity investment in SuperMeat demonstrates how PHW has “left the beaten path” in conducting business.

Peter Wesjohann
Peter Wesjohann, c.e.o. of PHW-Gruppe
“SuperMeat is consistent with our pursuit to provide Europe with sustainable, clean foods — we do not see this transaction as a financial investment but rather as the beginning of a long-term strategic partnership,” Mr. Wesjohann explained. “We look forward to working together with SuperMeat and are committed to supporting the company in its research and development, as well as the strategic positioning of its products in the European market. Our R.&D., marketing and distribution expertise will contribute to the success of this exciting and promising company — thereby contributing to the development of cultured meat.”
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