Israeli cultivated meat startup Aleph Farms is laying off approximately 30 employees, which represents about 30% of its roughly 100-person workforce. The layoffs, announced in early June 2024, are a result of significant challenges in securing investment over the past year, driven by a sharp global decline in investor interest in the alternative protein and cultivated meat sector. This downturn has been particularly severe in Israel, where political and security instability has further deterred investors, leading to an 80% drop in sector funding in 2023. Despite being a leading company in its field and recently receiving initial regulatory approval for its products, Aleph Farms was forced to cut costs as it could not meet its expansion plans and investor expectations amid the difficult funding environment.
