Chunk Foods, an Israeli company that specialises in plant-based whole cuts, has raised $15 million in a seed funding round.
The round featured participation from Fall Line Capital, The MIT E14 fund and Robert Downey Jr’s FootPrint Coalition.
Founded in 2020, Chunk makes plant-based whole cuts that mimic their meat counterparts. The company’s initial focus is on beef, but it also intends to create pork, lamb and poultry alternatives in the future.
Chunk Foods’ products have a “meaty texture and bite and unmistakable umami flavours”. Minimally processed, Chunk’s ‘beef’ whole cut contains no preservatives, additives, cholesterol or GMOs, and offers 25g of protein per portion.
The company first raised $2 million in a pre-seed round to support the product development process. The new funds are being used to construct what the company says is “one of the largest plant-based whole cuts factories in the world”.
CEO Amos Golan commented: “At a time in which consumers are driven by health and well-being in their food choices while still demanding great taste, we are committed to meeting their rising expectations and revolutionising eating habits”.
Eric O’Brien, co-founder and managing director of Fall Line Capital, said: “We are thrilled to lead the seed round and embark on this journey with Amos and the rest of the Chunk team. Their innovative approach to creating plant-based meat products with exceptional texture and taste while maintaining a clean label is impressive. Moreover, their ability to provide them at affordable prices offers a unique opportunity to address the gaps in the plant-based market, which has often been criticised for its high costs, overly processed options and lackluster taste.”
Chunk Foods’ facility will be completed in summer 2023 and will have the capacity to manufacture millions of steaks annually.
© FoodBev Media Ltd 2023
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