The Dutch start-up said this capital raise is the first close of a larger round
Mosa Meat, the Dutch start-up co-founded by the scientist who first created ground meat from cells, has raised $55 million in the first close of a larger Series B funding round. Blue Horizon Ventures led the round. The Luxemburgo-based venture capital firm was joined by Dutch food manufacturer Bell Food. This is Bell Food follow-on investment in Mosa Meat. M Ventures of Amsterdam also participated along with other mission-driven investors.
“The funding will be used to extend our current pilot production facility at our home in Maastricht, develop an industrial-sized production line, expand our growing team, and introduce delicious cultivated beef to consumers who crave change,” said Mosa Meat in a statement.
Mosa Meat also announced that Dr Regina Hecker, partner at Blue Horizon Ventures, has joined the board of directors. Hecker will have a special focus on science, scaling and regulatory.
Dr Hecker brings many years of experience in business and science to our team, and holds a PhD in molecular and cell biology, masters degrees in biotechnology management and engineering in biotechnology, and she is certified in plant-based nutrition.
The company said the new funding will help accelerate momentum.
“Already in 2019 and 2020, we’ve achieved major technical milestones, including reducing the cost of our medium by 88 times and removing fetal bovine serum from the production process,” Mosa Meat explained.
Mosa Meat has joined EIT Food’s Rising Food Stars Network, Europe’s leading agri-food innovation initiative, and grown its team to 50 scientists, engineers and food experts”.
We are very excited to welcome our new partners who share our mission to pioneer a cleaner, kinder way of making real meat. We can’t wait to begin this next phase together!” the company concluded.
Date published: 5 September 2020