Chunk Foods develops plant-based whole cuts using fermentation and food-grade microorganisms to turn soy and wheat into steak-like filets. Over the past year the company doubled in size, opened a whole-cut manufacturing facility and launched two new SKUs: a six-ounce Steakhouse Cut and a shredded Chunk steak. Its products have entered traditional restaurants on the U.S. East Coast, including Charley’s Steak House, and will reach Latin America through a strategic partnership with Sigma Alimentos, which will carry Chunk products in its Better Balance line in Mexico this year. Chunk closed a $7.5M seed extension and has $24M in total funding to date. CEO Amos Golan said the company will use the new capital to expand commercial and operations teams, pursue nationwide U.S. distribution, grow local distribution partnerships and increase manufacturing capacity. Golan declined to share revenue figures but said the current valuation is higher than the previous round. Chunk Foods develops whole-cut alternative proteins using proprietary fermentation technology and food-grade microorganisms to turn soy and wheat into steak-like proteins, with plans to extend into pork, lamb and poultry. Its steak product purports to mimic meat texture, fiber direction and juiciness while using a shorter ingredient list (no preservatives, additives, cholesterol or GMOs) and contains about 25 grams of protein. The company reports production costs around $5 per steak and has pilot production underway; it began a pilot phase in Q4 2022 and is still pre-revenue. The steak is already being served at New York City restaurants including Coletta, Anixi and The Butcher’s Daughter, and Chunk says it has enough pre-sales to occupy its new facility initially for a couple of months. Chunk employs roughly 25 people, with R&D based in Israel and a commercial team in the U.S., and it is developing versions without soy and wheat for consumers with allergies. The company is building a large manufacturing facility in Israel expected to be completed in June that management says will be able to produce "millions of steaks" per year, and it is planning an even larger facility as it eyes retail. Chunk Foods develops whole-muscle alt-meat products using a novel solid-state fermentation process to create beef alternatives with a short, natural ingredient list. The company is focused on making whole cuts — sirloin, chuck and ribs — rather than processed formats like burgers or nuggets. Chunk says its technology overcomes limitations of other approaches and aims to deliver realistic taste and texture. Competitors pursuing whole-cut alternatives include Umiami and Meati Foods, and researchers at the University of Massachusetts have received grants to work on whole-cut approaches, but Chunk’s method uses fermentation. The startup plans to use its new funding to improve products and expand its team. Founder and CEO Amos Golan highlighted that whole-muscle cuts account for about 60% of the U.S. beef market.

Total raised

$25M

Funding rounds

3

Latest round

Seed

Latest activity

Jan 2024