RiLBiTE

RiLBiTE, an Israeli food-tech company founded in 2018, is strategically positioned within the alternative protein market. The company was co-founded by Barak Melamed (CEO) and Shlomi Goren (COO). From its inception, the firm has focused on a foodservice-first market entry strategy, targeting clients such as restaurants and school districts in Israel to build brand loyalty before expanding into retail. This approach is exemplified by its participation in a national program to reduce child obesity, for which its product was the only vegan option to qualify.

RiLBiTE has developed a proprietary technology that utilizes culinary physics to mix and bind clean, fresh, and unprocessed plant ingredients. This process allows the creation of plant-based analogs for a variety of animal products, including minced meat, chicken, fish, and eggs, while preserving the nutritional value of the raw ingredients. The company’s flagship product, Minced Plants™, is a meat substitute made from a short list of ingredients like rice, lentils, tomatoes, and soy or peas. A key differentiator is its clean label, which avoids processed sugars, fats, stabilizers, or emulsifiers. Nutritionally, the product offers a high-protein, low-fat profile, containing approximately 22g of protein and just 0.2g of fat per 100g serving.

The company's business model involves both direct sales to foodservice and strategic partnerships for retail distribution and technology licensing. A significant milestone was the signing of a memorandum of understanding with Bio Meat Foodtech in 2021, which included a $1 million investment for a 9% stake in RiLBiTE and exclusive rights for retail distribution in Israel. This agreement also involves licensing RiLBiTE's technology, potentially for developing cultured fish products. The company operates a full-scale automatic production line and has already entered the European market, with products sold in major French retail chains as of early 2024. Having secured approximately $5.17 million in total funding through various rounds including pre-seed, seed, and convertible debt, RiLBiTE is focused on scaling up production and expanding its market presence.

Keywords: alternative protein, plant-based meat, food technology, clean label, meat substitute, culinary physics, foodservice, plant-based analogues, minced plants, vegan products, food-tech manufacturing, sustainable proteins, healthy ingredients, nutritional value, food innovation, Israeli food-tech, retail distribution, technology licensing, strategic partnerships, European market expansion