New Crop Capital is a specialized private venture fund that primarily invests in companies developing meat, dairy, eggs and seafood with plant-based ingredients or through cellular agriculture, as well as companies that promote and distribute these products. New Crop Capital is managed by Unovis Partners, a global investment firm focused on companies developing replacements to animal protein products. Unovis' mission is to transform the global food system by investing in solutions that facilitate sustained behavioral change and eliminate the production and consumption of animal protein products. New Crop Capital has recently invested in Novameat, a Spanish food startup that wants to bring plant-based meat alternatives to the public by way of its 3D printed plant-based steaks by using the funding to develop other plant-based proteins.
Novameat was started by Giuseppe Scionti, who works in biomedical engineering, and in 2018, the startup made the first 3D printed plant-based "steak" and the company said it has a brand new technology that can replicate the texture and appearance of fibrous meats like fish and chicken. For more information see the IDtechEx report on 3D Printing Materials 2019-2029: Technology and Market Analysis.
Novameat is trying to move the market forward because while plant-based ground meat is the norm, the fibrous nature of meat cuts hasn't been as easy to replicate. "While I was researching on regenerating animal tissues through bioprinting technologies for biomedical and veterinary applications, I discovered a way to bio-hack the structure of the native 3D matrix of a variety of plant-based proteins to achieve a meaty texture," Scionti said. "We are providing the equipment, the machinery, under a licensing agreement to these companies," Scionti said. "Plant-based meat manufacturers have access to something that creates the texture and taste of a steak."
"We think the global food supply chain is broken and we are focused on fixing one of those challenges, which is animal protein," said New Crop Capital's Dan Altschuler Malek. "We see that there is an opportunity to shift consumer behavior to reduce their consumption of animal protein products to products that are at the price point that people will pay."
Source and top image: New Crop Capital/Novameat