SavorEat announced that it raised Funds from The Mor and Meitav Dash investment houses will invest $3 million, and $1.75 million was raised from the Millennium Foodtech Partnership (which held its TASE IPO earlier this month). SavorEat solution provides different types of PBM meat substitutes that will provide a real meat eating experience.
This announcement follows the growing trend in the Plant Based Meat Market (PBM). Last year another PBM Start-up that has its roots in Jerusalem, Future Meat https://www.future-meat.com raised $13m.
In today’s, Environmental aware world, where there are huge resources going into the grazing of animals, and inhumane treatment of Animals – this is really the future frontier.
The Plant Based Meat Market (PBM)
The PBM industry is a relatively young industry experiencing fast growth due to different global trends that increase the demand of PBM over animal sourced meat. with the global population projected to reach 9.8 billion by 2050, demand for meat is expected to rise by more than 50 percent. To meet this demand without exacerbating the numerous and well-documented harmful costs of animal agriculture to the environment and public health, accelerated growth and globalization of alternatives to animal products are critical.
Bloomberg just published an article highlighting the Investment in PBM “Hoping to find the next Beyond Meat, venture investors have more than doubled their bets on alternative protein makers this year, raising more than $1 billion for startups that focus on everything from lab-grown meat to protein derived from volcanic microbes”.
https://www.bloomberg.com/news/articles/2020-07-27/venture-investors-double-their-bets-on-faux-meat-startups
SavorEat CEO Racheli Vizman said, “We believe that only a quality and healthy alternative to meat will succeed in leading the wished for change of reducing meat consumption. Through the last financing round, we will work to realize this outlook and bring unique technology to the market that can lead the foodtech market. The fact that significant institutions in the capital market have expressed confidence in us makes us very happy, and we believe that they will see justification in their investment in the not very long-term.”
Vizman added, “The unique technology that we have developed will be the next thing in the meat alternatives market. The technology not only simulates taste but also the unique colors, and smells of meat as well as the unique texture and experience of eating meat, and that is without foregoing the nutritional composition of the serving. This is a leap forward compared with the conventional methods of manufacturing with most companies currently producing the same texture.”
About SavourEat
SavorEat was founded in 2018 in order to introduce the global Plant Based Meat (“PBM”) market with a revolutionary solution to provide different types of PBM meat substitutes that will provide a real meat eating experience (texture, taste and nutritional values) as opposed to current popular products in the market that are homogenous and do not provide the desired eating experience. The SavorEat technology and products will allow customization of different BPM products (Beef, poultry, , lamb, fish and see food substitutes), freshly cooked just before being served.
The founders are CEO Racheli Vizman, Chief Scientist Prof. Oded Shosayev, and Prof. Ido Braslevsky. The company has eight employees and works with a team of senior consultants and leading partners including the BBB Group, and chef Einav Cohen, who serves as the senior culinary consultant for the Unilever multinational corporation, and others. The technology, which was developed at the Hebrew University’s Faculty of Agriculture, has received an exclusive commercialization license from the University’s Yissum technology transfer company.
The Israeli company has developed technology, which combines ingredients from an innovative plant based formula, 3D robot printing, and advanced cooking methods. SavorEat can manufacture and cook products that distinctively imitate the taste and texture of meat (including fat, sinew and fibers) with the manufacturing potential for other foods. The ingredients come from plant sources and are patent protected. Production of each serving is carried out by a “robot chef,” integrating automatic and autonomous manufacturing methods with unique 3D printing and heating methods, facilitating the full cooking of servings. The robot allows personalization of many dimensions of the serving, untouched by human hands.
For further information”
Hana Gruzman, SavorEat Ltd. hana at savor-eat.com
www.savor-eat.com
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