October 10, 2019 / 12:01 PM / 10 months ago

Israel's Future Meat raises $14 mln for lab-grown meat production

JERUSALEM, Oct 10 (Reuters) - Israeli startup Future Meat Technologies said on Thursday it raised $14 million in a funding round led by Chicago-based S2G Ventures and Emerald Technology Ventures, which is Swiss-based.

Future Meat, seeking to tap into consumer concerns about the environment and animal welfare, is developing a platform for the production of meat from animal cells, without the need to raise or harvest animals.

The funding marks the second largest investment round in the cultured meat sector to date, the company said.

Other investors included the venture arm of Tyson Foods , the CEO of one of the largest producers of meat alternatives, Monde Nissin, UK-based Manta Ray Ventures and China's Bits x Bites.

The new funds will be used for research and development and to build the world's first cultured meat pilot production facility, estimated to begin operations in 2020, south of Tel Aviv, the company said. (Reporting by Ari Rabinovitch; Editing by Tova Cohen)

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