Based in Maastricht, the Netherlands, the business will use the funds to further scale up its production processes, drive down the cost of production and prepare for market entry.
The funding round was led by a mixture of new and existing partners, including Lowercarbon Capital, M Ventures and the Dutch state-owned impact investor Invest-NL.
Invest-NL comes partly with coverage by InvestEU, the European Commission program supporting initiatives that align with EU policy priorities, while the regional development agency for the Limburg province, LIOF, and the Limburg Energy Fund (LEF) also contributed to the round.
New partners with a background in the meat sector also took part in the fundraising programme, including one of Europe’s largest poultry producers, the PHW Group. Investors such as XO Ventures and Doux Investments were also involved.
‘Working towards a future where cultivated beef is an option’
Mosa Meat was established by scientist Mark Post and food technician Peter Verstrate and has been working for more than 10 years to develop cultivated meat products fit for commercial release.
In 2023, the firm opened and successfully starting production at its scale-up facility and is now preparing the first formal tastings of its cultivated beef in The Netherlands.
Commenting on the funding round, CEO Maarten Bosch said: “The overall macroeconomic landscape has been rough in the last two years, which has culled the herd of companies and forced us to be even more strategic and focused on achieving our mission.
“As such, we are humbled and honoured to welcome both public parties and conventional meat producers to join this critical journey. In an environment that is increasingly polarised, we choose to connect and collaborate, working towards a future where cultivated beef is a real choice for consumers and a complementary solution in the toolbox to combat the climate crisis, biodiversity loss, and food insecurity.
“Rethinking how we produce great food for a growing planet without destroying it is quite a daunting task and will take many people and organisations to pull in the same direction.”
In other news, leading food producer Samworth Brothers has acquired The Real Wrap Co for an undisclosed fee.
