Welcome to our new investors
We are thrilled to announce that M Ventures, Bell Food Group and others are joining us as investors in a €7.5M Series A funding round to create the future of meat.
Ever since Mark and Peter created the first cultured beef hamburger in 2013, we’ve been investing in the scientific progress needed to bring cultured meat to dinner tables throughout the world. The investors we’re joining forces with today bring a wealth of expertise to make that future a reality.
M Ventures is the corporate venture capital of German science and technology company Merck KGaA. They bring deep expertise in cell production and culturing cells, the technologies most relevant to making cultured meat. They are also frontrunners in the production of high-quality and scalable cell media, which is very significant given that the media currently comprises 80% of the cost of cultured meat. Bell Food Group is the leading meat processor in Switzerland, with operations across Europe, bringing strong downstream capabilities in meat processing and distribution. They are complemented by venture capital funds and mission-based investors, and they join earlier investors like Google co-founder Sergey Brin.
The funding helps us create an end-to-end production process for cultured meat at significantly reduced cost. It will also prepare us to build a pilot production facility (we tend to call it the “meat brewery”) for a small-scale market introduction of premium meat in 2021.
As the first European cultured meat company to get funded, we’re very proud but also humbled. Because the challenge before us is enormous: to keep up with growing demand for meat globally, while reducing the amount of livestock needed. Many changes are needed across several industries.
But the vision of a more sustainable, animal-friendly way to satisfy the world’s demand for meat is one we are enthusiastically dedicated to. We’re “all systems go”, and we can’t wait to start the next phase of our mission to bring cultured meat to your table!
For more information about the funding round, read our press release.