Calcalist: "Cultured meat is a bubble which caught on, but it's not a product"
Israel's cultured meat company Aleph Farms has been hit hard with rounds of layoffs - some of which are related to the war and the company's decisions, but some of which have to do with the sector's global woes.
Aleph Farms, once a promising Israeli cultured meat startup, has fallen on hard times, and is now undergoing its third round of layoffs at the company.
Aleph Farms, one of the few companies in the world authorized to produce lab-made meat, raised $140 million from investors, but the war and reportedly questionable decision making mean they will have to lay off about half their staff.
The company is also suffering from the general slump of the cultured meat market, with other companies only selling limited amounts of product, often at a loss.
One investor working in the alternative foodtech field said that "cultured meat is a marketing concept that caught on nicely, but it's not a product and it's not a technology."