Mosa Meat raises $10M to scale cell-based meat

Dive Temporary:

  • Mosa Meat, the Netherlands-based firm that made the world’s first cell-based hamburger in 2013, raised $10 million to shut out its Sequence B funding spherical at $85 million. This brings the corporate’s whole fundraising to $96 million.
  • The corporate mentioned it should use the cash to increase its present pilot manufacturing facility, develop an industrial-sized manufacturing line, increase its crew and introduce cultivated beef to customers. Traders within the newest funding embody Nutreco, which has been a Mosa Meat funder and accomplice since final 12 months, and CEO of European on-line meals ordering and supply firm Simply Eat Jitse Groen.
  • Mosa Meat is one among a handful of corporations globally working towards making cell-based meat that may be bought to customers. To this point, solely Eat Simply has obtained regulatory approval for a product that’s now being supplied at a restaurant in Singapore. Mosa Meat Chief Scientific Officer Mark Publish mentioned in an interview in December the corporate plans to start out producing its cell-based beef for customers in Europe.

Dive Perception:

In 2021, wider manufacturing and regulatory approval of cell-based meat is shifting towards actuality. With this funding spherical, the primary firm that created cell-based meat in 2013 can get nearer to its aim of getting slaughter-free beef onto the market.

In December, Publish advised Meals Dive the corporate was working to scale up its manufacturing so it may make sufficient cell-based meat to hunt regulatory approval in Europe. He estimated then the corporate would have the ability to put in an software within the first half of 2021. Mosa Meat is aiming to have a product in the marketplace on the finish of 2022.

As the unique creator of cell-based meat, Mosa Meat set lots of the broad manufacturing targets each for itself and the complete cell-based meat house. The primary hamburger Publish created value about $280,000 to make, however that worth level primarily got here from the elements wanted to make it — particularly dear fetal bovine serum for the cell development medium. Primarily based on this preliminary value, Mosa Meat set its sights on decreasing it. 

Mosa Meat is one among many cell-based meat corporations that has already had a busy 12 months within the run as much as develop merchandise and know-how.

Israel-based Future Meat Applied sciences, which is working towards a 2022 product launch in Israel and the USA, introduced this month it might produce a cell-based hen breast for $7.50. Future Meat additionally obtained $26.75 in new funding within the type of a convertible observe. Earlier this month, Israel’s Aleph Farms created the world’s first slaughter-free ribeye steak by way of cell cultivation and 3D printing. And BlueNalu, a California firm making cell-based seafood, obtained $60 million in debt financing final month.

BlueNalu is utilizing these funds to open a brand new headquarters and pilot plant and ramp up workers and gear to be able to have sufficient product to placed on menus by the top of this 12 months — which is when the corporate is anticipating to have regulatory approval from the U.S. Meals and Drug Administration.

With funding, new amenities and new developments, cell-based meat corporations are making progress towards their targets of manufacturing inexpensive merchandise. What’s much less clear is what sort of progress regulatory authorities in several international locations are making towards making certain these merchandise might be bought. The regulators have largely been quiet about their progress, however the corporations working with them say they’re assured that all the things will likely be in place once they have merchandise out there.

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