Aleph Farms raises $29 million for lab-grown steak

In Israel, cultivated meat producer Aleph Farms has raised $29 million to expand production at its Rehovot pilot plant and expand production into Europe and Asia.

The fundraise comes as company cofounder and CEO Didier Toubia acknowledged a “correction” in the lab-grown meat market to AgFunderNews. “[L]ike our peers, Aleph Farms is naturally adjusting its fundraising terms to align with 2025 market conditions,” Toubia said.

Currently, the company can produce meat for $14/lb in 2,000-5,000-liter bioreactors. At large-scale, the price drops to $6-7/lb. “We’ve developed a unique patent [pending] process to incorporate the cells into a proprietary plant-based matrix in a homogenous way with high throughput without growing them on a scaffold, which simplifies the production process and makes it much more scalable,” Toubia added.

Aleph expects to raise a $10–15 million more in the coming months.