The cell-based meat pioneer raises nearly $ 20 million to bring first products to market
Cell-based meat company Mosa Meat recently raised nearly $ 20 million after another round of the Series B fundraiser. The new funding, led by Blue Horizon Ventures and backed by investors including Mitsubishi Corporation, Target Global and ArcTern Ventures, brings the Dutch company’s total investment funding to $ 75 million after securing $ 55 million in September.
Expansion of production
Mosa Meat was the first to make a slaughter-free meat burger in 2013 using a small amount of cells taken from an animal’s muscles and grown in a laboratory. The company plans to use the funds to expand its pilot production facility in Maastricht, the Netherlands, including creating an industrial-scale production line and expanding its team.
Mosa Meat is also working to improve its cell cultivation methods and develop plant-based serum to nourish the cells, and hopes its new funding and partnerships will help. Previously, the nutritional serum used to feed the cells was fetal bovine serum, which is both inhuman and costly. Having a plant-based option to feed the cells is one reason Mosa Meat has not yet worked towards regulatory approval. The company wants to be able to have a growing medium that is completely animal free before starting the process.
Mosa Meat hopes to bring its slaughter-free beef products to market once it has regulatory approval in Europe. The regulatory process is expected to take a year and a half and the company aims to launch a product by the end of 2022. “We look forward to welcoming our new partners. They all contribute their expertise and share our commitment to making our food system more sustainable, ”said Maarten Bosch, CEO of Mosa Meat, about the new investors. According to Mosa Meat, cell-based meat would use up to 99 percent less land and 96 percent less water than animal meat production.
Admitted in Singapore
Food technology company based in California Just eat– Makers of the popular JUST Egg and JUST Mayo – recently announced that it received the world’s first ever regulatory approval for cell-based chicken in Singapore. Over the weekend, the company first sold its cell-based chicken, a gourmet restaurant in Singapore, in 1880.