Tyson Foods Invests $2M In Israeli Startup Developing Lab-Grown Meat by the Forward

Tyson Foods Invests $2M In Israeli Startup Developing Lab-Grown Meat

JERUSALEM (JTA) — An Israeli company that is developing a way to grow meat in a lab has received a $2.2 million seed investment in part from the venture capital arm of Tyson Foods.

Jerusalem-based Future Meat Technologies is developing a distributive manufacturing platform for the cost-efficient, non-GMO production of meat directly from animal cells, without the need to raise or harvest animals. The company is developing a new generation of manufacturing technology that enables the cost-efficient production of fat and muscle cells, the core building blocks of meat.

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.”

In addition to Tyson Ventures, others participated in this round of investment funding. They include 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, which also licensed the underlying technology. New York-based HB Ventures also participated.

When Yaakov Nahmias, Yissum’s founder and chief scientist, launched his research, the lab-grown meat cost about $5,000 a pound to produce. The price is now at about $400 a pound, with plans to make it $2.50 to $5 by 2020, according to a statement from the company.

Correction, 2:45 p.m.: A previous version of this story stated that Future Meat Technologies received a $42.2 million investment from Tyson Ventures. In fact, it was a $2.2 million investment that was co-led by Tyson Ventures.


Tyson Foods Invests $2M In Israeli Startup Developing Lab-Grown Meat

Your Comments

The Forward welcomes reader comments in order to promote thoughtful discussion on issues of importance to the Jewish community. All readers can browse the comments, and all Forward subscribers can add to the conversation. In the interest of maintaining a civil forum, The Forward requires that all commenters be appropriately respectful toward our writers, other commenters and the subjects of the articles. Vigorous debate and reasoned critique are welcome; name-calling and personal invective are not and will be deleted. Egregious commenters or repeat offenders will be banned from commenting. While we generally do not seek to edit or actively moderate comments, our spam filter prevents most links and certain key words from being posted and the Forward reserves the right to remove comments for any reason.

Recommend this article

Tyson Foods Invests $2M In Israeli Startup Developing Lab-Grown Meat

Thank you!

This article has been sent!