PR90516

REHOVOT, Israel, July 9, 2021 /PRNewswire=KYODO JBN/--

Leader in sustainable, cultivated meat will use funds to scale-up manufacturing

and grow operations internationally ahead of initial market launch in 2022

Aleph Farms [http://www.aleph-farms.com/ ], the cultivated meat company growing

steaks directly from non-genetically modified animal cells, has announced the

completion of a $105 million Series B funding round. The funding round was led

by the Growth Fund of L Catterton, the largest global consumer-focused private

equity firm, and DisruptAD, one of the largest venture platforms in the Middle

East. It also saw participation from Skyviews Life Science, as well as a

consortium of leading global food and meat companies including Thai Union, BRF,

and CJ CheilJedang. Additionally, existing investors, including VisVires New

Protein, Strauss Group, Cargill, Peregrine Ventures, and CPT Capital,

participated in the Series B funding round. To date, the Company has raised

more than $118 million.

The Company will use the funds to execute its plans for large scale global

commercialization of cultivated beef steaks and portfolio expansion. Near-term

milestones include scaling-up manufacturing, growing operations

internationally, and expanding its product lines and technology platform ahead

of Aleph Farms' initial market launch in 2022. The Company is currently working

with regulatory agencies on its plans for market entry.  

DisruptAD's investment in Aleph Farms will also help bolster Abu Dhabi's

long-term focus on food resilience. As a strategic partner to DisruptAD, Aleph

Farms will evaluate the establishment of a manufacturing facility in Abu Dhabi

to supply its cultivated meat products across the UAE and the broader GCC

region.

"We are thrilled to grow our relationships with existing partners, and welcome

select new investors in this funding round," said Didier Toubia, Co-Founder and

CEO of Aleph Farms. "This additional capital from top-tier partners with

unparalleled experience and expertise brings us significantly closer to our

vision of providing secure and unconditional access to high-quality nutrition

to anyone, anytime, anywhere. We see our investors as partners for building

this new category of meat and it was critical to us that they share our strong

commitment to improving the sustainability of our global food systems."

Michael Farello, a Managing Partner at L Catterton's Growth Fund, said, "With

cultivated whole-muscle cut steaks, an optimized platform for cost parity at

scale, and a global partnership network with the world's largest meat

producers, Aleph Farms has differentiated itself as the leading cultivated meat

company poised to go to market. We are excited to support their success as they

prepare for global launch, and we look forward to leveraging our significant

expertise in food and sustainable businesses that meet the needs of a changing

consumer and a changing world."

Mansour AlMulla welcomed Aleph Farms on behalf of DisruptAD as its first

Israel-based partner, and said: "Our partnership with Aleph Farms underpins our

long-term desire to accelerate the path for technology pioneers and change

leaders that are building technologies of tomorrow."

Mayank Singhal, speaking on behalf of DisruptAD, added "Our belief is that the

future of food will be built around evolved consumer choices and a redressal of

climate concerns, with Aleph playing a central role in shaping this agenda

across global markets. We are delighted to partner with them."

About Aleph Farms

Aleph Farms grows beef steaks, from non-genetically engineered cells isolated

from a living cow, without harming animals and with a significantly reduced

impact to the environment. The company was co-founded in 2017 by Didier Toubia,

The Kitchen Hub of the Strauss Group, and Professor Shulamit Levenberg from the

Biomedical Engineering Faculty at the Technion - Israel Institute of

Technology. The company's Series A funding round was led by VisVires New

Protein, with participation from Peregrine Ventures and Strauss Group, as well

as other leading global food and meat companies including Cargill and

M-Industry. For more information, please visit www.aleph-farms.com.

About L Catterton

With approximately $30 billion of equity capital across its fund strategies and

17 offices around the world, L Catterton is the largest global consumer-focused

private equity firm. L Catterton's team of nearly 200 investment and operating

professionals partners with management teams around the world to implement

strategic plans to foster growth, leveraging deep category insight, operational

excellence, and a broad partnership network. Since 1989, the firm has made over

250 investments in leading consumer brands. For more information about L

Catterton, please visit www.lcatterton.com.

About DisruptAD

DisruptAD is ADQ's venture capital platform. Its activities include investments

in start-ups and venture capital funds, as well as the creation of new

incubators and accelerators to support Abu Dhabi's evolution as a global

start-up destination and accelerate the development of its innovation

ecosystem. DisruptAD invests across the UAE as well as other global markets

including the Middle East and North Africa region, India, China, South East

Asia and the United States. The platform aims to support and nurture over 1,000

start-ups by 2025.

Press Contacts:

NutriPR on behalf of Aleph Farms

Liat Simha

liat@nutripr.com

+972-9-974-2893

L Catterton

Andi Rose / Haley Salas

Joele Frank, Wilkinson Brimmer Katcher

212-355-4449

Photo - https://mma.prnewswire.com/media/1557372/Aleph_Farms_team.jpg

SOURCE: Aleph Farms