Profuse Technology Secures $2.5 million in Seed Funding to Reduce Costs of Cultivated Meat Production
Summary
KIRYAT SHEMONA, Israel, Sept. 15, 2022 /PRNewswire/ -- Profuse Technology, an Israeli Foodtech start-up that aims to revolutionize cultivated meat production by shortening its duration, improving its quality, and increasing yields, today announced the completion of a $2.5m seed funding round (and a total of $3.75m since its establishment).The round is led by NY based investment company Green Circle, specializing in Foodtech, with the participation of existing shareholders - OurCrowd, Tnuva, and Tempo. "For some time, we have been cautiously optimistic about cultivated meat and unwilling to invest in producers," said Stu Strumwasser, Managing Director of Green Circle and a lifelong vegetarian. "ProFuse technology was founded in June 2021 as part of the FRESH START Foodtech incubator operating under the Innovation Authority and a consortium of 4 partners: Tnuva, Tempo, OurCrowd, and Finistere Ventures. Profuses technology is based on six years of research conducted at the Weizmann Institute of Science, led by the Co-Founders Dr. Tamar Eigler-Hirsh, Professor Eldad Tzahor, and Dr. Uri Avinoam. The companys solutions and additives are based on the activation (patent pending) of a biochemical signaling pathway that accelerates differentiation and enhances the fusion of muscle cells.