IntegriCulture has raised $7.42 million in Series A funding to fuel the development of protein and cosmetics products based on proprietary technology
Food-tech company IntegriCulture is gearing up for the commercial launch of cell-based meat alternatives. The company announced the news following a Series A funding round the Japanese start-up closed at JPY800 million ($7.42 million) today.
The round was led by Beyond Next Ventures with the participation of NH Foods; Real Tech Fund AgFunder; Naruhisa Nakagawa; the chief executive of Caygan Capital, acting as a private investor; Hiroshima Venture Capital; and VU Venture Partners and other investors.
IntegriCulture said in a statement the new capital will be utilised for R&D of cell culture technology, investment in facilities and equipment, staffing and operational costs.
IntegriCulture is headquartered in Tokyo, and the company has developed a patented technology called CulNet System — a general-purpose, large-scale cell culture system capable of producing animal cell-based food and materials such as meat, leather and other products.
J. Skyler Fernandes, general partner at VU Venture Partners, commented: “IntegriCulture’s technology makes the production of cultured meat affordable at scale, and will rapidly increase the commercialisation for the next generation of meat brands.”
The future milestones for IntegriCulture include the launch of cell-based foie gras in 2021, processed meat in 2023 and steak in 2025.
Date published: 28 May 2020