Switching to cultured meat could pave the way for reduced greenhouse gas emissions
Dutch startup Mosa Meat, that has been at the forefront of cultured meat industry, has announced that it has raised €7.5M in a Series A funding round to bring cultured meat to market by 2021.
The round was co-led by M Ventures, the corporate venture capital arm of Merck and Bell Food Group, the leading meat processor in Switzerland. Mosa Meat will use the funding to develop an end-to-end process for cultured meat production at significantly reduced cost. The endpoint of the funding will allow the company to prepare for the construction of a pilot production plant for the introduction of a premium product in 2021.
Mosa Meat CEO Peter Verstrate said by connecting with M Ventures which is the corporate venture capital fund of Merck will give Mosa Meat access to Merck’s deep expertise in culturing cells and producing high quality and scalable cell media. Alexander Hoffmann, Principal at M Ventures said that replacing traditional meat production with cultured meat would have a huge impact on the reduction of greenhouse gas emissions.
Lorenz Wyss, CEO of Bell Food Group said that the strategic partnership with Mosa Meat can become a true meat alternative for environment-conscious consumers.