The alternative protein sector saw 54 deals totaling $443.45 million in the first half of 2025, with investments spanning various technologies and product categories. While the second quarter experienced a drop in funding compared to the first, plant-based products secured the largest share of investment ($213.81 million), followed closely by fermentation technologies ($198.7 million), primarily for protein and dairy alternatives. Cultivated protein remained a smaller segment ($30.9 million). Meat substitutes attracted the most funding by product category, and notable investments included Beyond Meat’s $100 million debt financing, Liberation Labs’ $50.5 million for precision fermentation, and Formo’s $35.86 million for precision fermentation dairy.
