Alternative beef burgers made of plant-based materials by Redefine Meat. (Courtesy, Redefine Meat)
In recent years, Israeli tech has been carving a name for itself in the alternative protein field, coming up with varied ways to replace real meat, the production of which is a key contributor to global warming.
In the main, meat substitutes are being made either from plant-based materials or from the multiplication of real cells taken from animals without causing them harm.
As a vegetarian since 2012 and a 95% vegan for four or five years (sorry, but almond milk doesn’t cut it for me in a real British cup of tea), I have followed developments closely.
Plex raises $50M growth round to fuel ad-supported streaming, expansions
Streaming media software maker Plex announced today it has raised a $50 million growth equity round from existing investor Intercap ahead of its planned business expansion into rentals, purchases and subscription content. This is the first financing Plex has taken on since 2014 and is being partly used to purchase shares and options from Plex’s early seed investors and shareholders from prior acquisitions, and to give the company’s earliest employees a bit of liquidity. Of the $50 million raised, $15 million will be put to work as new growth capital.
The company declined to disclose its valuation as a result of the funding technically Plex’s Series C but says it resulted in a relatively low dilution for its existing investors who have stayed in, including Kleiner Perkins and Nexstar, for example. Meanwhile, some of its earliest investors were able to get a 10x return or greater on their shares.
Plex Raises $50M in Growth Equity Funding finsmes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finsmes.com Daily Mail and Mail on Sunday newspapers.