Cultured meat start-up Mirai Foods secures $2.4m in funding

Swiss start-up Mirai Foods has raised CHF 2.1 million ($2.4 million) in the first tranche of its seed round, to accelerate the commercialisation of its lab-grown meat.

Based in Zürich, Switzerland, Mirai cultivates animal cells in a lab to produce meat. The company, which was founded about a year ago, focuses on beef but aims in the long term to offer a variety of different types of meat.

Seven investors participated in the funding, including Paulig Group’s venture arm and technology investor, Team Europe.

“Our mission is to accelerate the world’s transition to producing food that is environmentally, ethically and economically sustainable,” said Christoph Mayr, Mirai co-founder and CEO.

“And we want to do it as cleanly and naturally as possible since this is important to many consumers and regulators, particularly in Europe.”

Mirai is one of ‘the very few’ globally operating cultivated meat players that do not genetically or chemically manipulate cells, according to Paulig.

The company will reportedly use the funding to accelerate product development and to transform its prototype into a commercial product.

“Mirai Foods is a second-generation player in this field, and they have been extremely fast,” said Marika King, head of Paulig’s venture arm, PINC.  

“It only took them six months to develop the first prototype and we are very excited to be part of this team’s journey. It is a great fit for PINC and Paulig; we want to actively support the development of new sustainable food.”