Mosa Meat Raises $85 Mn In Series B Round The platform will use the funds to extend its current pilot production facility in Maastricht, develop an industrial-sized production line, expand its team, and introduce cultivated beef to consumers
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media.
Netherlands-based food technology company Mosa Meat introduced the world's first cultivated beef hamburger in 2013, on Tuesday announced the third and last closing of its Series B funding led by Luxembourg-based Blue Horizon Ventures.
This third closing of $10 million brings the total funds raised in the round to $85 million.
Investors in this last closing include new and existing investors like Nutreco, aquafeed, and Just Eat Takeaway.com chief executive officer Jitse Groen.
The funding will help the company to scale up to real beef production in a sustainable and safe way.
"We are delighted to extend our collaboration with existing partners and welcome new partners in this round," said Maarten Bosch, chief executive officer, Mosa Meat. "The closing of Series B funding brings us one step closer to our mission to develop a cleaner, kinder way of making real beef. Our partners bring immense strategic capabilities and expertise, and share our strong commitment to increasing the sustainability of our global food system."
The platform 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 cultivated beef to consumers.
"I am delighted that Mosa Meat has reached its next milestone toward large-scale production of real meat. Nutreco is invested in its mission of Feeding the Future, which will require protein production from traditional and alternative protein production methods. Our partnership in Mosa Meat is an important part of our strategy to help to meet the growing demand for high-quality protein," commented Rob Koremans, chief executive officer, Nutreco.
The food technology fund aims to support and promote a positive global impact on the environment, human health, and animal welfare. The company welcomes this strong group of mission-aligned investors after its successful Series A funding in 2018, which was led by M Ventures and Bell Food Group.
