Cultured meat growth supplement business is in talks with major meat manufacturers in Spain, Germany and Norway as they eye alternative solutions to food supply chain struggles
Traditional meat and food multinationals will move into cultivated meat development in the next four years, Kerem Erikçi, co-founder and CEO for cultured meat growth supplement start-up Biftek believes.
Speaking to NutritionInvestor, Erikçi said Biftek was already in talks with major meat companies in Spain, Germany and Norway as they seek long-term solutions for the worsening challenges facing the traditional food supply chain.
“There is a strong demand from commercial food companies and meat companies to invest in the [cultivated meat] area because they understand current methodologies are not sustainable and they have to find a way for their businesses to survive,” the founder said.
“They are waiting for the technology to be mature but I think in three to four years we will see huge investments from commercial meat companies into the space.
“Initially it will be through equity investments in small start-ups like ours and then if things are favourable, they will most likely acquire these companies,” Erikçi said.
The Delaware-headquartered start-up has been developing growth supplements for red meat and fish and is looking to scale its team of scientists to move into chicken and other meat types.
“At the moment we are nine people and we would like to be 14 including PhDs and post-docs that are knowledgeable in different cell types,” Erikçi said.
The company closed its latest funding round in September with a strategic investment from Vancouver-based cultivated meat investor Cult Food Science.
In the short-term, Biftek is planning to send samples of its work to cultured meat start-ups to get some feedback and optimise the product. Then it will scale production significantly to honour its commercial partnerships.
Date published: 18 October 2021