NETHERLANDS – Dutch cultivated-meat producer Mosa Meat has secured a substantial funding round, totaling €40 million ($42.5 million), from a blend of both existing and new backers.
VTEC Ingredients, an alternative protein ingredients firm, is one of the new partners.
This company counts German poultry heavyweight PHW Group as its majority stakeholder.
Marcus Keitzer, serving as a board member for alternative protein sources at PHW, emphasized the strategic importance of investing in Mosa Meat, highlighting the company’s pivotal role in enhancing food-tech expertise and diversifying PHW Group’s portfolio in the alternative protein sector.
Other new investors in this funding round include Dutch state-owned investment group Invest-NL, EU-run funding program InvestEU, as well as venture capital and private equity firms Doux Investments and XO Ventures.
Meanwhile, existing investors Lowercarbon Capital and M Ventures have continued their support for Mosa Meat, having led the funding round since its Series A stage back in 2018.
Maarten Bosch, CEO of Mosa Meat, expressed gratitude for the continued support amidst challenging economic conditions, highlighting the importance of collective effort in realizing the company’s mission of sustainable food production.
The influx of funds will primarily be allocated towards scaling up production capabilities and reducing manufacturing costs as Mosa Meat gears up for its market debut.
The company is currently preparing for the initial tastings of its cultivated beef in the Netherlands, following regulatory approval from the Dutch government in July 2023.
Mosa Meat anticipates entering the Singaporean market with its innovative cultivated beef burger, leveraging its unique capability to produce 80,000 cultivated beef burgers from a single 0.5g cow cell sample.
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