Israel-based SavorEat, a company which has developed a proprietary technology that simultaneously print and cooks plant-based meat substitutes, has landed a $3 million funding round. The funding round was led by investors Mor and Meitav Dash.
The funding round, which was first reported by Israel-based news publication Globes, is the second for SavorEats in the last two weeks. Prior to this investment, the company had raised $1.75 million from Millennium Food-Tech.
The investment comes as interest in 3D printed meat alternatives heats up, especially in Israel. Other startups competing in this nascent market include Redefine Meat (formerly Jet Eat) and Meatech, a company which prints cultured meat cells into steak.
SavorEat’s technology is unique in a couple of ways. The first differentiator is that is uses a plant-based cellulose as a binder. The cellulose is combined with other ingredients such as plant-based fats and protein to make the final product.
Another thing that sets SavorEat apart is that it prints fully cooked pieces of meat.
From my piece on SavorEat earlier this month:
The other big differentiator for SavorEat’s technology is that it prints and cooks simultaneously, which allows the company’s printers to make a fully cooked piece of 3D printed meat like you might see produced by a futuristic appliance like that in the TV show Upload.
The food comes out “ready to be eaten,” said Vizman. “We’re printing one layer, then we cook one layer, print one layer, cook one layer. So at the end, you get something that’s ready to be consumed.”
According to SavorEat CEO Racheli Vizman, the company has signed a partnership with one of the largest fast-food chains in Israel, BBB Group (Burgus Burger Bar), and they plan on testing the product out in the restaurant chain in the next twelve months. From there, the company hopes to use the recent funding round to commercialize and expand using the their recent funding.