These start-ups are shifting the traditional meat value chain into a clean meatless production by developing plant-based or lab-grown meat technologies. Funding in meat substitutes start-ups increased more than six times from 2013 to 2018, and 63% in the early part of 2019, driven mainly by the Series E round of $300M for Impossible Foods. In May this year, the IPO of the American producer, Beyond Meat, provides a clear sign of the growing popularity of alternative proteins.
Meat substitutes start-ups by total funding
#1 Impossible Foods
Impossible Foods develops and manufactures plant-based meatless food, mainly using soy and potato proteins. Founded in 2011, the company has already partnered with large B2B distributors, such as Sysco, US Foods and over 5000 restaurants in the United States, Hong Kong, Macau and Singapore.
Total funding: $674M
Last funding round: May 2019, $300M SERIES E
Select Investors: Temasek Holdings, Horizons Ventures, Bill Gates
#2 Beyond Meat
Beyond Meat is a company launched in 2009 that creates plant- based meat using, mainly, pea protein. Their products can be found in grocery stores and fast food restaurants such as Carl’s Jr and TGI Fridays. Considered as the first meat substitutes company that went public (from May 2nd 2019), listed on NASDAQ as BYND, offered 11 million shares priced at $25 a piece, raising $240 million.
Total funding: $139M
Last funding round: October 2018, $50M SERIES H; May 2019, IPO
Select Investors: Tyson Foods, Obvious Ventures, Bill Gates
#3 Memphis Meats
Memphis Meats , founded in 2015, uses cellular engineering to produce lab-cultured meat without the need to raise or harm animals, only by the use of animal’s cells.
Total funding: $20M
Last funding round: January 2018, DEBT
Select Investors: Tyson Foods, SOSV, New Crop Capital
#4 Aleph Farms
Aleph Farms is an Israeli startup company launched in 2017 that produces lab-cultured meat from the use of cow- cells. The company’s differentiation is that rather than produce burgers, meatballs or nuggets, Aleph Farms are focus on the lab- cultured steak.
Total funding: $15M
Last funding round: May 2019, $12M SERIES A
Select Investors: Cargill Ventures, VisVires New Protein, New Crop Capital
#5 Good Catch Foods
Good Catch Foods, founded in 2017, is an early- stage company that develops plant- based seafood substitutes focusing in burgers, crab cakes, plant- based tuna. The company mainly uses beans, leaving apart animal sacrifice. Their products can be found in retailers such as Thrive Market, Fresh Direct and Whole Foods Market stores and restaurants in the USA.
Total funding: $9M
Last funding round: August 2018, $8.7M SERIES A
Select Investors: Blue Horizon, New Crop Capital, Thrive Market
#6 Mosa Meat
Mosa Meat, founded in 2016, is a Dutch startup that develops lab- grown beef from cattle cells. In 2018, was the first company presenting the world’s first beef burger made directly from cow cells.
Total funding: $8M
Last funding round: July 2018, $8M SERIES A
Select Investors: M Ventures, Bell Group Food, New Crop Capital
#7 Alpha Foods
Alpha Foods is an American plant- based food producer founded in 2015. The company focuses on the production of chicken nuggets and pot pie. Their products are available in over 5000 grocery stores across the US, including Walmart and Kroger.
Total funding: $7M
Last funding round: March 2019, $7M SEED
Select Investors: New Crop Capital, AccelFoods
SuperMeat is an Israeli startup company launched in 2015 that develops lab- grown chicken meat.
Total funding: $4M
Last funding round: May 2018, $4M SEED
Select Investors: BackBone Ventures, Starlight Ventures, PHW Group