ISRAEL PLANT-BASED FOOD SECTOR TAKES OFF
Israeli plant-based meat startup Chunk Foods has recently completed the largest ever seed round funding of an Israeli plant-based protein company, raising $15 million. Alternative protein and cultivated meat products have become a trendy and lucrative element of the food-tech sector and according to the recent Good Food Institute Report, investment in Israeli food tech in 2022 was second only to the United States with 22% of the world’s total investment in plant-based food tech.
The funds raised by Tel Aviv’s Chunk Foods will be used to help complete its factory, scheduled to be completed in the summer of 2023 and which will be one of the largest in the world producing plant-based meat products. What makes the seed round even more interesting is the high profile of some of the investors, including the Hollywood actor Robert Downey Jr.’s company, FootPrint Coalition, Fall Line Capital and the MIT E14 fund.
The company’s steak alternatives have already appeared on the menus of several New York City and Los Angeles restaurants. Before investing, the FootPrint Coalition had consulted with various restaurant groups and tested Chunk Food products in their test kitchens which resulted in unanimous praise for taste, texture, ease of preparation and ingredient selection, checking off all the necessary categories .
Chunk Food’s CEO, Amos Golan said in describing the company’s mission that “at a time in which consumers are driven by health and wellbeing in their food choices, while still demanding great taste, we are committed to meeting their rising expectations and revolutionizing eating habits.”
As an additional insight, the Good Food Institute Israel CEO Nir Goldstein added: “As the climate and food crisis become more and more imminent, shifting away from industrial animal agriculture is one of the greatest challenges of our time. Recent consumption patterns reveal that there is a high demand for delicious and affordably priced plant-based whole cuts. This is precisely what Chunk Foods has expertly crafted.”
The start-up nation steps up to help the world again!
Source: Israel21C.
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