Redefine Meat’s 3D-printed, plant-based “meat” raises $29mn
Rehovot, Israel-based food technology startup Redefine Meat does what it says on the tin in the form of it’s so-called “Alt-meat” products.
I’ll take mine 3D-printed
While alternative meats are picking up in popularity, to the extent that KFC and have both featured meat alternatives in their restaurants, Redefine Meat’s approach differs in that it utilises additive manufacturing.
The company says that its process is capable of producing plant-based meat alternatives on an industrial scale, with a production facility scheduled for completion later this year. A recent blind-tasting of its products was said to have demonstrated a “90% acceptance rate among meat eaters”, replicating both the texture and flavour of meat.
Significant foodtech backing
The company has today a $29mn Series A round led by Happiness Capital and Hanaco Ventures, alongside CPT Capital, Losa Group, Sake Bosch and K3 Ventures. The company last raised $6mn in a from 2019 led by CPT Capital alongside Hanaco Venture Capital and PHW Group.
"We are thrilled to have concluded this round of funding with such a unique and diverse group of highly experienced, professional investors who share our vision," Eshchar Ben-Shitrit, CEO and Co-founder of Redefine Meat. "This funding, which was concluded faster and better than we could have imagined a year ago, is a major step towards becoming the world's biggest alternative meat company by 2030."
The company said it would use the funds to expand its product portfolio in anticipation of commercial launch in 2021.
Ben-Shitrit added : "We want to change the belief that delicious meat can only come from animals, and we have all the building blocks in place to make this a reality: high-quality meat products, strategic partnerships with stakeholders across the world, a large-scale pilot line under construction, and the first-ever industrial 3D Alt-Meat printers set to be deployed within meat distributors later this year."
Microsoft Power BI: Enabling data culture through innovation
Businesses using Microsoft’s cloud services may be familiar with Power BI – a business analytics service that aims to provide interactive visualizations and business intelligence capabilities with a simple experience helping end users create their own reports and dashboards. Power BI is part of the Power Platform which is a set of low-code tools consisting of business intelligence, app development, bot development and process automation applications. In a world where everything is constantly changing, the Power Platform enables subject matter experts to keep up with business needs.
Today, data comes not just from transactional systems of record, but from the real world – whether it is the devices people use, to everyday human interaction. Power BI’s mission is to make access to data paramount to every business operation through its solutions and empowers individuals, teams and organizations to drive a data culture. This sentiment is further established by Arun Ulagarathchagan, Corporate Vice President of the Power BI team, adding “Our vision here in the Power BI team is to help you drive a data culture where everyone can make every decision with data.” So what can organisations expect to see next in the pipeline? Microsoft is bringing performance management to Power BI for the first time. Organisations strive to achieve certain goals, and today, goals are largely data-driven. Power BI helps make those goals more accessible and personalized in existing workflows. This means that since many teams’ data, analytics and business logic is already reported in Power BI, they can now instantly connect it to their personal/department goals. It is also worth noting that Goals is natively integrated into the Microsoft Teams experience. The goals algorithm is also AI powered, so organisations can better understand how they’re doing and where are the opportunities for improvement. Finally, Microsoft is working towards integrating it with Power Automate, so organisations can define business processes that get automatically triggered as the goals change status. Goals will soon be available as a mobile experience too, so teams can stay up to date and take action in real-time. On that note, another major announcement from Microsoft features real-time analytics. Today, data is captured from everywhere and synthesizing it in real-time allows for maximum impact. Power BI has been a pioneer in real time analytics from the start with a simple vision – that the distinctions between batch, real time, and streaming data today will disappear over time. Power BI will launch Streaming Data Flows soon, allowing every business a simple low-code way to work with real-time data.
Amir Netz, CTO Power BI concludes “Our vision is to empower everyone in the world with data, and not just the people sitting in offices, but people who are working in the real world, people who are moving things, creating things, producing things with their hands. And for this, we have to think again about how we deliver data to help them make better decision