€40 million in new funding for cultured meat pioneer Mosa Meat
Cultured meat producer Mosa Meat plans to use funding from new and existing partner to bring cultured beef to consumers.
Mosa Meat, the pioneer in cultured beef, has raised €40 million in investment from existing and new funders. With the money, the Maastricht-based company aims to bring cultured meat to consumers faster. The funds will be used to scale up production processes further and prepare for market launch.
Lowercarbon Capital and M Ventures led the investment round. Among the investors are new government-funded parties, such as Invest-NL, regional development company LIOF, and the Limburgs Energie Fonds (LEF). This regional fund invests in projects and companies that contribute to reducing CO2 emissions. It also brought in new partners with a background in the conventional meat sector, including PHW Group, one of Europe’s largest poultry producers. XO Ventures, Doux Investments, and more new partners have also joined existing investors to create a more diverse and resilient food system. Dutch impact investor Invest-NL receives partial coverage for the investment from InvestEU, the European Commission’s program that supports initiatives that align with European policy priorities.
For CEO Maarten Bosch, the successful investment round is an important milestone, especially given the deteriorating macroeconomic situation over the past two years. “That brought challenges for our entire industry. As Mosa Meat, this made us even more strategic and focused on achieving our mission. Therefore, we are pleased and honored to welcome both public parties and conventional meat producers as new partners and investors.”
After opening and successfully commissioning a scale-up facility and becoming a B Corp last year, Mosa Meat is currently preparing its first formal tastings of cultured beef in the Netherlands.
“In an increasingly polarizing environment, we are choosing to connect and collaborate,” Bosch said. “In doing so, we are building a future where cultured beef is a real choice for consumers and one of the complementary solutions at our disposal to combat the climate crisis and biodiversity loss. Our goal is to organize our food system so that we can continue producing good food for a growing world population without irreparably damaging the planet. This is a huge challenge that will require many people and organizations to work together.”
More information: innovationorigins.com