Meat-Tech 3D raises $7m investment round led by Psagot

– ISRAEL, Ness Ziona –  Meat-Tech 3D Ltd. (TASE: MEAT), a developer of industrial-scale cultivated meat production technologies based on advanced 3D bioprinting, today announces that it has closed a $7 million investment round led by institutional investors Psagot Provident and Pension Funds, and also including the Mor investment house as well as private investors.

Gat Megiddo, VP of Investments at Psagot, said: “The Investment in Meat-Tech aligns with our investment strategy focusing on high impact companies. Companies which we believe have great economic potential, as well as a potentially huge contribution to the environment. Meat-Tech has made impressive progress with its development pipeline, in addition to the strategic acquisition that the company is working to complete. The acquisition promotes a foothold in the global protein alternatives market which is showing great momentum.”

Meat-Tech’s CEO Sharon Fima commented: “We thank our investors for their confidence in the company’s activities and vision. The investment round enables us to progress the recently announced Peace Of Meat acquisition, strengthening an important part of our R&D and opening up new markets such as that for hybrid products.”

About Meat-Tech 3D

Meat-Tech 3D is a research and development company aiming to develop commercial and sustainable technologies to manufacture alternative proteins with no need for animal slaughter. Meat-Tech is developing a unique, proprietary bioprinter to deposit layers of cells (including stem cells and differentiated stem cells), scaffolding, and cell nutrients in a three-dimensional form of structured cultured meat, often called “clean meat” or “cultured meat.”

For more information: https://meatech3d.com/

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