Israeli startup Meala FoodTech, was founded as part of the Israel Innovation Authority’s incubator program in 2021. It develops functional protein ingredients to be used in plant-based meat alternatives. The company has developed a proprietary platform that can be used to replace commonly used ingredients in plant-based meats such as methylcellulose and other hydrocolloids, with clean-label ingredients. According to the company, its functional proteins can improve the texture and organoleptic qualities of meat alternatives (burgers, sausages, nuggets, and fish) while acting as substitutes for binding and gelling agents on account of the product’s water retention qualities.
Key customers and partnerships
In September 2022, the company unveiled prototypes for several types of alternative meats and entered into partnerships with several leading plant-based CPG manufacturers to integrate Meala’s solution into their products. Furthermore, the company was slated to launch in the US and European markets by 2024.
Funding and financials
In February 2023 , the company raised USD 1.9 million in a pre-seed funding round led by The Kitchen FoodTech Hub and DSM Venturing with participation from Milk & Honey Ventures. The funds raised were intended for further developing its platform technology and accelerating from lab to pilot scale.
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