Chunk Foods Raises $15 Million to Produce Millions of Realistic Plant-Based Steaks

The global plant-based food industry has experienced a surge in growth, accumulating $8 billion in sales and receiving $1.2 billion in investment in 2022, as reported by the Good Food Institute. Among the funded companies are No Meat Factory, Planetarians, ISH Company, and Chunk Foods, the latter of which is developing plant-based protein alternatives that closely resemble the texture and taste of traditional meat, starting with steak and eventually expanding to pork, lamb, and poultry.

Amos Golan, the founder and CEO of Chunk Foods, believes that the plant-based market is only just beginning to tap into the $1.4 trillion traditional meat market. Established in 2020, the Israel-based company raised $15 million in seed funding in November, marking the largest seed round ever for an Israeli plant-based business. The funding was led by Fall Line Capital and included participation from The MIT E14 fund and FootPrint Coalition.

Chunk Foods leverages fermentation technology and food-grade microorganisms to transform soy and wheat into its proteins, with plans to create products without these ingredients for consumers with allergies. Its steak product boasts 25 grams of protein and is free of preservatives, additives, cholesterol, and GMOs. The company’s proprietary fermentation technology has enabled it to mimic the texture, color, taste, fiber direction, and juiciness of traditional meat while maintaining a shorter and cleaner ingredient list.

The technology has also allowed Chunk Foods to reduce costs to approximately $5 per steak, comparable to traditional beef tenderloin prices. Although the company is still in its early stages, its steak product is already being served in New York City restaurants like Coletta, Anixi, and The Butcher’s Daughter.

The new funds will be used to construct a facility in Israel, anticipated to be “one of the largest plant-based whole cuts factories in the world.” Set to be completed in June, the facility will have the capacity to manufacture millions of steaks annually. Furthermore, the company plans to expand its employee base, with R&D in Israel and a commercial team in the U.S.

Amid challenges faced by first-generation plant-based companies like Beyond Meat and Impossible Foods, Golan argues that the third generation of plant-based businesses, including Chunk Foods, are offering improved products and leading the way. He emphasizes that their products are reasonably priced and that they maintain better communication with consumers.

Reducing your meat intake and eating more plant-based foods is known to help with chronic inflammation, heart health, mental wellbeing, fitness goals, nutritional needs, allergies, gut health, blood pressure, cholesterol, blood sugar, and more! Plant-based diets have also been found to lower rates and risks for various diseases! Conversely, dairy and meat consumption has been linked to many health problems, including acne, hormonal imbalance, breast cancer, prostate cancer, and more.

You’ve probably heard a saying along the lines of “You can’t pour from an empty cup” or “To best serve others, pour from a full cup.” The gist of these expressions is that when you take care of yourself, you’re better able to take care of others. Thus, the positive effects of a plant-based diet reach even further than the reduction in Pollution and emissions. A plant-based diet will make you feel great, which will enable you to care for the planet and those living on it even more. This is where the Food Monster App can help you with over 20,000 plant-based recipes!

Check out some of our others articles to help improve your health:

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