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Israeli-founded lab-grown meat startup Believer shuts down as funds dry up

Believer Meats, an Israeli-founded startup specializing in lab-grown chicken, lamb, and beef from animal cells, has ceased operations after running out of funds. The company, which recently completed a large-scale production facility in North Carolina and received regulatory clearance to sell cultivated chicken in the United States, faced financial difficulties amid a lawsuit over unpaid construction bills and a broader downturn in food technology investments. Despite raising nearly $400 million and being seen as a pioneer in the cultivated meat industry, Believer Meats struggled with high operational costs and shifting investor priorities. Industry experts note that while the timing for market entry was challenging, the demand for alternative protein sources remains, and enabling technologies may eventually revive the sector.

Original article source: https://www.timesofisrael.com/israeli-founded-lab-grown-meat-startup-believer-shuts-down-as-funds-dry-up/
Source Id: 8997052103

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