Boarding Pass“Consumers are curious about today’s meat alternatives, but they aren’t satisfied with them”
Boarding Pass
“Consumers are curious about today’s meat alternatives, but they aren’t satisfied with them”
Israeli startup Meat.The End has raised $4 million to help with the texture of alternative meat
“Consumers are curious about today’s meat alternatives, but they aren’t satisfied with them,” said Meat.The End. “They crave something closer to meat. MTE’s products beat market leaders because texture is key to consumer satisfaction.”
The company, which was founded in 2020 during the pandemic, offers a “meaty experience” that it claims is indistinguishable from the real thing. Its MTE’s TextMeat technology provides a solution for businesses looking to increase customer retention and grow organic sales. This month, it was announced that the company is implementing its product into Burger King branches across Israel.
Meat.The End has joined CTech for its Startup Boarding Pass series to highlight the need for better alternative meat products, and how the markets respond accordingly.
Company Name: Meat.The End (MTE)
Sector: Food-Tech
Product/Service Description:
MTE develops protein ingredients that transform the texture of alternative meat. Our unique IP is in industrial extrusion processes and related protein treatment. Our products perfectly mimic and enhance the sensation of meat.
Founder Bios:
Dr. Yishai Mishor is MTE's founder. Prior to MTE, Yishai was the founder and CEO of Ein Hamishpat, a legal-tech startup. His 20-year career spans law, business, academia, and politics, including serving as Chief of Staff to the President of Israel. Yishai holds a Ph.D. in Law from the University of Oxford and was a Professor there.
Year of Founding: 2020
Last Investment Round: $3 million
Last Investment Stage: Seed
Date of Last Investment: September 2022
Total investment to date: $4 million
Investors (leading and all): Big Idea Venture's New Protein Fund, Artesian, BRINC, and Yozma Group Korea.
Current number of employees: 15
Open positions: N/A
Website:
Social Media:
Interview:
How was the idea born?
During the Covid-19 quarantines, Dr. Yishai Mishor was analyzing the climate crisis and trying to think of what the market currently needs to hasten the transition to meat alternatives and tackle the meat industry’s impact on the environment. He began speaking to experts in the field and understood that the number one roadblock for consumers, stopping them from switching to meat, is the texture of meat alternatives in the market today. So he decided to find a solution and founded MTE. With a clear vision, he was immediately joined by former chief technologists of Nestle, Unilever, and Strauss, and the rest is history.
What is the need for the product?
Consumers are curious about today’s meat alternatives, but they aren’t satisfied with them. They crave something closer to meat. MTE’s products beat market leaders because texture is key to consumer satisfaction. Offering a meaty experience indistinguishable from the real thing, MTE’s TextMeat technology provides a solution for businesses looking to increase customer retention, rise above their competition, and grow in organic sales.
How is it changing the market?
MTE develops protein ingredients that transform the texture of alternative meat. Our unique IP is in industrial extrusion processes and related protein treatment. Our products perfectly mimic and enhance the sensation of meat.
How big is the market for the product and who are its main customers?
According to GFI: “In 2020, retail sales for plant-based alternatives grew twice as fast as overall food sales in the U.S. Sales for plant-based meat in particular grew 45 percent… Based on publicly available forecasts of plant-based meat demand and production needs… a hypothetical production scenario set in 2030, where plant-based meat has captured 6% of the global meat and seafood market, necessitating the production of 25 million metric tons (MMT) of plant-based meat annually.”
Does the product exist already? If not - at what stage is it and when is it expected to hit the market?
Different MTE products are at different development stages. On October 24, the first product is being launched to the market in the first collaboration between an Israeli food-tech company and an international food chain, Burger King, following a product development and scale-up process that was completed in less than a year. Meanwhile, MTE’s R&D department continues to develop protein ingredients that will revolutionize the food industry.
What is the added value that the founders bring to the company and the product?
MTE’s human capital is its key to success. The company is comprised of world-class data scientists, protein engineers, and mechanical engineers, which brought to its selection by the European Institute of Innovation and Technology as one of 2020’s most promising startups.
What will the money coming in from the round be used for?
R&D.
In the "Startup Boarding Pass" section, CTech will cover the (relatively) small investments made in companies during the early stages of their existence - and the entrepreneurs and startups who have not yet had the opportunity to reveal their stories to the world. Please use the linked form and fill it out according to the guidelines. This form is intended for startups raising between $500,000 and $3 million from venture capital funds, angels, or official grants from Israeli and foreign institutions. If relevant, someone at CTech will be in touch for follow-up questions.
