Mosa Meat raises Series B funding to prepare for large-scalecultured meat production
Mosa Meat, the European food technologycompany which introduced the world’s first cultured beef hamburger in 2013, announced the firstclosing of $55M as part of a larger Series B funding round.
Mosa Meat will use the funds to extend its current pilot production facility at its home in Maastricht,develop an industrial-sized production line, expand its team, and introduce delicious cultured beef toconsumers. While no date has been announced for an introduction to consumers, the company willwork with regulators to demonstrate the safety of cultured beef, in order to achieve regulatoryapproval to serve consumers in Europe who are craving change.
The Series B funding round is led by Luxembourg-based Blue Horizon Ventures, the food technologyfund that aims to support and promote a positive global impact on the environment, human health,and animal welfare. Dr. Regina Hecker is joining the board with special focus on science, scaling andregulatory. They are joined by Bell Food Group, M Ventures and other mission-based investors andadvisors.
Mosa Meat, which now has a team of 50 scientists, engineers and food-lovers, has reached criticaltechnical milestones in 2019 and 2020 including an 88x cost reduction in growth medium cost, andremoving Fetal Bovine Serum from the production process.
“We are very excited to welcome our new partners and see existing partners continue our journeytogether” said Maarten Bosch, CEO of Mosa Meat. “With their support and capabilities, we have theopportunity to take the next concrete steps to scale production, make progress towards a cleaner,kinder way of making real beef, and ultimately increase the resilience, sustainability, and safety of ourglobal food system”.
“We are excited to be joining Mosa Meat as lead investor in this round” said Dr. Regina Hecker,Partner at Blue Horizon Ventures. “Following a thorough investigation of its technology and team, weare convinced that Mosa Meat is strongly placed to pioneer the scale-up of cultured meat”.
This funding round follows a successful Series A round in 2018, which included investments by MVentures, Bell Food Group, Nutreco and Lowercarbon Capital.
Source: MosaMeat (Press release)