The round was led by Jerusalem Venture Partners (JVP), with additional investment from Milk and Honey Ventures, and the Israeli Innovation Authority (IIA)
(l-r) Professor Oded Shoseyov, Michal Drayman, Amit Yaari, Erel Margalit, Dana Yarden and Ilan Ron
Israeli FoodTech start-up BioBetter has secured $10 million in its A–round funding.
With the sudden windfall, the company is looking to expand to a larger pilot plant within the Tel Hai Industrial Park in the Upper Galilee Region of Israel.
Working behind the scenes of the emerging cultured meat industry, BioBetter is repurposing tobacco plants to create the growth factors necessary for the cellular development of cultivated meat with the tobacco plant.
The discovery could significantly reduce cultured meat production costs by 300%.
The start-up is on a mission to relieve one of the biggest bottlenecks in this emerging industry: the steep costs and limited availability of growth factors that play a critical role in multiplying cultured meat cells.
BioBetter has pioneered a unique protein manufacturing platform for producing growth factors (GFs) using tobacco plants as natural, self-sustaining, animal-free bioreactors.
The field-grown tobacco plants offer a new, fast, efficient, and flexible response to the market need for more competitively priced GF’s.