We have already started our food startup in 2019 A . farms mentioned. Now the company has received $105 million in funding to expand its technology ahead of launch.
In this process, cells are taken from living animals and the natural process of muscle tissue regeneration is simulated. This is used in the manufacture of artificial meat. With the help of bioprinting technology, the material is brought into a shape that resembles traditional cuts of meat. After several successful prototypes, the company says it is currently working with regulatory authorities to develop its own marketing plans. Additionally, the new capital will help expand product lines and technology platform ahead of the initial launch in 2022.
The Series B investment round was led by L Catterton’s Growth Fund, a global consumer-focused private equity firm, and DisruptAD, the venture capital platform for the United Arab Emirates (UAE) sovereign wealth fund. Other donors include consultancy Skyviews Life Science and a consortium of leading global food and meat companies such as Thai Union and BRF of Brazil and CJ CheilJedang of South Korea. In addition, existing investors, including VisVires New Protein, Strauss Group, Cargill, Peregrine Ventures and CPT Capital, participated in the round.