Dutch startup Mosa Meat nabs €69.6 million to scale up its cultivated beef production

Today Mosa Meat, the European food technology company that introduced the world’s first cultivated beef hamburger in 2013, announced the third and last closing of its Series B funding.  Founded in 2015, Mosa Meat produces slaughter-free hamburgers. The burger is harvested from cow cells, rather than raising and slaughtering a whole animal. By growing meat…

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[Beyond Meat in Yahoo Life] Bill Gates Wants Us to Eat 100% Synthetic Beef. He Has a Point.

Bill Gates suggests synthetic beef like Beyond Meat is a key part of climate action. The Microsoft cofounder and chair of the investment fund Breakthrough Energy Ventures recently suggested that “all rich countries should move to 100% synthetic beef” in an interview with MIT Technology Review.

Read more here.

The post [Beyond Meat in Yahoo Life] Bill Gates Wants Us to Eat 100% Synthetic Beef. He Has a Point. appeared first on OurCrowd Blog.

OurCrowd Blog

Dutch startup Mosa Meat raises €16.4M to commercialise its cultivated beef; a big global corp backs this meaty round

Mosa Meat

Back in 2013, Hanni Rützler of Future Food Studio, who researches on food trends, got the first chance to taste Mosa Meat‘s synthetic beef hamburger at an event in London. 

“Lack of juiciness and seasoning, but close your eyes, this definitely synthetic hamburger was meat,” she said. And this was proof that it was feasible to develop edible and safe meat without slaughtering an animal. 

Back then, it was a single startup and cost €250K to make a single burger, but now, numerous startups and NGO’s have popped up and started working on other lab-grown animal products like Chicken, Pork, Fish, Turkey, and much more. 

Raised €16.4M

Fast-forwarding to December 2020, the Dutch startup Mosa Meat has raised $ 20M (approx €16.4M) in Series B funding, bringing the total amount of funding to $ 75M (approx €62M). 

Earlier this year, in September, the company had announced the first closing of $ 55M (nearly €47.8M), which was a part of its larger Series B funding.

Who invested in Mosa Meat?

The funding was led by Blue Horizon Ventures, with participation from Target Global, ArcTern Ventures, and Rubio Impact Ventures. Blue Horizon Ventures aims to support and promote a positive global impact on the environment, human health, and animal welfare. Notably, Mitsubishi Corporation, Japan, the global integrated business enterprise company also invested in the round. 

How will the funding be used?

The company will use the funds to scale its production facility at its home in Maastricht developed an industrial-sized production line, expanded its team, and introduced delicious cultivated beef to the consumer. 

Why Mosa Meat?

According to the Food and Agriculture Organisation of the UN, by 2050, the world’s population will surpass 9B, and meat demand is expected to be 70% higher than today’s level. 

Mark Post and Peter Verstrate in 2016 founded Mosa Meat to find a new method to make real meat to feed the fast-growing population in a sustainable, healthy, and animal-friendly way.

“In the past few years, we’ve made significant scientific breakthroughs and brought the price of our meat down considerably. We’re now focussed on scaling up the production process and getting our first products on the market in the next 3-4 years,” says the company. 

It is projected that cultured meat production will use up to 99% less land, and 96% less water, “This greater efficiency will make it possible to provide the world’s growing population with real meat in a sustainable way,” says Mosa Meat. 

The process

Talking about the process, Mosa Meat says, making cultured meat (clean meat) is similar to making livestock meat, except the cells grow outside the animal’s body. 

It’s worth mentioning that one sample from a cow can produce 800 million strands of muscle tissue (enough to make 80,000 quarter pounders). When all these strands are layered together, we get meat, claims the company. Then the meat is processed using standard food technologies to make it consumable. 

“We are delighted to welcome our new partners,” said Maarten Bosch, CEO of Mosa Meat. “As well as bringing immense strategic capabilities and expertise, they share our strong commitment to increasing the sustainability of our global food system”

World’s first regulatory approval for cultured meat

In other news, Eat Just Inc, a company known for creating more healthier and sustainable foods has gained regulatory approval in Singapore to produce and sell lab-grown chicken meat as an ingredient in chicken bites. The company has developed other cultured chicken formats that will be an extension to this product line.

According to the company, the Singapore Food Agency reviewed the process, manufacturing control, and underwent rigorous safety testing before approval. Eat Just has demonstrated a consistent manufacturing process of their cultured chicken by running over 20 production runs in 1,200-liter bioreactors.

The company claims that this regulatory allowance paves the way for a forthcoming small-scale commercial launch in Singapore of Eat Just’s new GOOD Meat brand, details for which will be disclosed at a later date.

“I’m sure that our regulatory approval for cultured meat will be the first of many in Singapore and in countries around the globe. Working in partnership with the broader agriculture sector and forward-thinking policymakers, companies like ours can help meet the increased demand for animal protein as our population climbs to 9.7 billion by 2050,” says Josh Tetrick, co-founder, and CEO of Eat Just.

Startups – Silicon Canals

This Dutch startup developed world’s first cultured beef hamburger for €250K; raises €47.8M to scale production & drop price

There has been increasing awareness regarding animal abuse and the negative effects of consuming meat laced with chemicals and antibiotics on health. It is estimated that animal agriculture is responsible for the emission of more greenhouse gases than all the world’s transportation systems combined. According to the United Nations, a global shift toward a vegan diet is necessary to combat the worst effects of climate change.

Eventually, people are looking for healthier options with fewer chemicals. This has given rise to a number of clean meat companies that grow muscle cells and fat cells in a bioreactor, thereby eliminating the needless killing of animals and is also safer for the environment. One such startup involved in the production of cultured meat is Maastricht-based Mosa Meat.

Bags €47.8M Series B funding

In a recent development, Mosa Meat announced the first closing of $ 55M (nearly €47.8M), which is a part of the larger Series B funding. The round is led by Blue Horizon Ventures, a Luxembourg-based food tech fund that intends to support and promote a positive global impact on human health, environment, and animal welfare.

The Dutch startup will use this investment to extend its existing pilot production facility in Maastricht, expand its team, develop an industrial-sized production line, and bring delicious cultured beef for its customers. For now, the food-tech startup has not announced a specific launch date and will work with regulators to demonstrate the safety of its product and seek approvals to serve European consumers awaiting change.

In addition to the Series B funding, Dr. Regina Hecker, Principal at Blue Horizon Ventures, will join the board of Mosa Meat with a special focus on scaling, science, and regulatory. They are joined by M Ventures, Bell Food Group, and other mission-based investors and advisors as well.

This funding round follows a successful Series A round in 2018, which included investments by M Ventures, Bell Food Group, Nutreco and Lowercarbon Capital.

World’s first cultured hamburger

Mosa Meat, a Dutch food tech startup founded by Mark Post and Peter Verstrate in 2016 produces and grows beef naturally from cow cells. It wants to transform the global meat industry with its cell-culture technology. The company already launched the world’s first cultured hamburger and intends to develop commercial products available for consumers by 2021. It claims that the process involves no genetic modification

According to the company, its first burger cost €250,000 to produce and was funded by Sergey Brin, the co-founder of Google. “The burger was this expensive in 2013 because back then we were producing at a very small scale,” says the company.

For the past few years, Mosa Meat has been focusing on improving the product and developing a scalable production process (as opposed to working on bringing down the price). Although the company has managed to reduce the cost of some parts of the process (for eg, by reducing manual labour through automation, and eliminating costly components of the medium), the process remains expensive. The company claims the price will only really come down, when it scales up significantly.

The company is aiming for a first market introduction in the next few years. “It is very difficult to commit to a particular timeframe because there are still some scientific unknowns and factors outside our control (such as the regulatory process). The first introduction will likely be small-scale. Several years beyond that, we aim to be widely available in restaurants and supermarkets,” claims Mosa Meat.

Main image picture credits: Mosa Meat

The post This Dutch startup developed world’s first cultured beef hamburger for €250K; raises €47.8M to scale production & drop price appeared first on Silicon Canals .

Startups – Silicon Canals

Zoom Acquires Keybase to Beef up Security on its Platform

Zoom has been under increased security for privacy vulnerabilities on the platform as the pandemic has forced an accelerated digital transformation with companies scrambling to integrate remote work solutions. One step in addressing these concerns is the company’s recent acquisition of Keybase, an NYC security startup launched by the cofounders of OkCupid and SparkNotes.
AlleyWatch

Rapid7 is acquiring DivvyCloud for $145M to beef up cloud security

Rapid7 announced today after the closing bell that it will be acquiring DivvyCloud, a cloud security and governance startup for $ 145 million in cash and stock.

With Divvy, the company moves more deeply into the cloud, something that Lee Weiner, chief innovation officer says the company has been working towards, even before the pandemic pushed that agenda.

Like any company looking at expanding its offering, it balanced building versus buying and decided that buying was the better way to go. “DivvyCloud has a fantastic platform that really allows companies the freedom to innovate as they move to the cloud in a way that manages their compliance and security,” Weiner told TechCrunch.

CEO Corey Thomas says it’s not possible to make a deal right now without looking at the economic conditions due to the pandemic, but he says this was a move they felt comfortable making.

“You have to actually think about everything that’s going on in the world. I think we’re in a fortunate position in that we have had the benefit of both growing in the past couple years but also getting the business more efficient,” Thomas said.

He said that this acquisition fits in perfectly with what he’s been hearing from customers about what they need right now. “One area of new projects that is actually going forward is how people are trying to figure out how to digitize their operations in a world where they aren’t sure how soon employees will be able to congregate and work together. And so from that context, focusing on the cloud and supporting our customers’ journey to the cloud has become an even more important priority for the organization,” he said.

Brian Johnson, CEO and co-founder at DivvyCloud says that is precisely what his company offers, and why it should fit in well with the Rapid7 family. “We help customers achieve rapid innovation in the cloud while ensuring they remain secure, well governed and compliant,” he said. That takes a different playbook than when customers were on prem, particularly requiring automation and real-time remediation.

With DivvyCloud, Rapid 7 is getting a 7-year old company with 70 employees and 54 customers. It raised $ 27.5 million on an $ 80 million post-money valuation, according to PitchBook data. All of the employees will become part of the Rapid7 organization when the deal closes, which is expected to happen some time this quarter.

The companies say that as they come together, they will continue to support existing Divvy customers, while working to integrate it more deeply into the Rapid7 platform.

Startups – TechCrunch