Israel’s food technology sector significantly strengthened in the first half of 2022, according to a report on alternative protein, which showed that several Israeli companies are set to become global leaders in the industry.
Good Food Institute’s (GFI) Israel report found that Israeli startups raised over $320 million in the first six months of 2022 – a 160 percent increase from the previous year – behind only the U.S. in fundraising.
Only a few especially large companies are holding most of the weight on their shoulders to make sure Israel retains its status as a global leader in foodtech.
Remilk, which specializes in cultured milk and dairy products, was among the Israeli companies to take a central role in the global alternative protein sector.
It raised $130 million so far this year and expects to build operations in Denmark.'
Redefine Meat, which 3D prints plant-based alternative meat products, raised $135 million and is planning to build a factory in The Netherlands.
Companies in the U.S. raised $857 million in the same time frame, while China followed Israel with a total of $120m in investments, Singapore with $104m, and $96m in France.
GFI’s report also highlighted expansion plans of other Israeli firms – Peace of Meat will build a pilot plant in Belgium, and Aleph Farms opened an R&D facility in the central Israeli city of Rehovot.
“This is a young and fascinating industry that, in addition to profits, provides an opportunity to rectify the global food system,” said Aviv Oren, director of business engagement and innovation for GFI Israel.
Reprinted with permission from i24NEWS