February Edition 2023

12 Future Meat attracts largest single investment round in cultivated meat industry. Rehovot-based Future Meat Technologies attracted an impressive USD 347 million Series B financing round, making it the largest single investment round in the cultivatedmeat industry. EBN represented the Company's main investors including S2G Ventures, Tyson Foods and Manta Ray Ventures since the first round of investment in the company, which developed a technology to produce lab grown meat products. One of the most notable deals in the Israeli plant-based protein sector in 2022 was the USD 135 investment in Redefine Meat, a maker of 3D-printed plant-based meat products, to fund production lines in Israel and the Netherlands, as well as expand its partnerships with restaurants and eateries. EBN has also advised some of the investors in Redefine Meat. There was also a USD 105 million investment in cultivated meat start-up Aleph Farms, which served up the first steak made of cow cells grown in a lab in 2018 and a cultivated ribeye cut in 2021. The company has raised more than USD 118 million to date. The success of Beyond Meat and Impossible Foods also shows that there is consumer demand for plant-based meat alternatives,while, in early 2022,Rehovot-based Plantish unveiled theworld’s first vegan, whole-cut salmon fillet. In December 2022, Israeli food-tech company Equinom raised USD 35 million in funding led by Synthesis Capital, a leading global food technology and alternative protein investor, as it looks to increase its offering of optimized plant protein ingredients to market. As Greenberg Traurig’s Shabot adds: “In terms of sectors or subsectors of the food and ag industry, we are seeing a lot of interest in the dairy-related industry. The dairy industry is an intersection of a very traditional and formerly quite local industry. Today, however, even before the AgTech revolution, large international companies have become leaders in the dairy business. With AgTech what is happening is that they are pivoting towards technology in order to replace traditional sources of dairy. Cow-free milk is one example, which has promise also for other human health applications. There are a The disruption of dairy and animal-free millk