Tyson leads $2.2m investment in JLM based Future Meat Technologies

May 2, 2018 – Jerusalem-based biotechnology company Future Meat Technologies has received $2.2 million in a seed investment funding round led by Tyson Ventures, the venture capital arm of Tyson FoodsFuture Meat Technologies has developed manufacturing technology that enables the cost-efficient production of fat and muscle cells to create cultured meat products.

Future Meat Technologies said it will use the funds from Tyson Ventures to establish its engineering activities and increase its biological research. The company is recruiting engineers, chefs and scientists.

“This is our first investment in an Israel-based company and we’re excited about this opportunity to broaden our exposure to innovative, new ways of producing protein,” said Justin Whitmore, an executive vice president at Tyson. “We continue to invest significantly in our traditional meat business, but also believe in exploring additional opportunities for growth that give consumers more choices.”

Tyson Ventures was joined by the Neto Group, one of the largest food conglomerates in Israel, S2G Ventures, a Chicago-based venture capital fund, BitsXBites, China’s first food technology venture capital fund, and Agrinnovation, an Israeli investment fund founded by Yissum, the Technology Transfer Company of The Hebrew University. New York-based HB Ventures also participated.

Future Meat Technologies aims at transforming global meat production through distributive manufacturing of fat and muscle cells, increasing food safety and reducing ecological impact worldwide – to turn the timeless vision of animal-free meat production into a reality. Their cutting edge cellular agriculture technology was developed by award-winning biologists and bioengineers and brought into reality by world-renowned innovative chefs at Jerusalem’s singular culinary scene.

For more information, see: FoodBev Media

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