Cultured meat firm Mosa Meat raises further $20m in funding

Dutch food-tech firm Mosa Meat has raised an additional $20 million in funding, as the company announced the second closing of its Series B funding round.

The additional $20 million brings the total amount raised in the round to $75 million. According to Mosa Meat, this additional funding means that the Series B round represents the largest funding round for a cultured meat firm in Europe to-date.

Mosa Meat introduced what it asserts was the world’s first cultured beef hamburger in 2013.

The cultured meat start-up states that it will use the funds to extend its current pilot production facility in Maastricht, The Netherlands; develop an industrial-sized production line, expand its team, and introduce delicious cultivated beef to consumers.

The Series B funding round included investments from Mitsubishi Corporation and private equity firms Blue Horizon Ventures, Target Global, ArcTern Ventures and Rubio Impact Ventures.

Maarten Bosch, CEO of Mosa Meat, said: “We are delighted to welcome our new partners.

“As well as bringing immense strategic capabilities and expertise, they share our strong commitment to increasing the sustainability of our global food system”.

The second closing of the funding round comes just a week after Singapore granted regulatory approval to cultured chicken produced by Eat Just in a world first, a major breakthrough for the cultured meat industry.

The approval means that cultured chicken produced by Eat Just has been approved for sale in Singapore as an ingredient in chicken bites.