Dutch startup Mosa Meat, known for its lab-grown meat, has secured an additional €40 million in funding. This follows two years after a significant Series B investment of $85 million. The latest funding round was spearheaded by Lowercarbon Capital and M Ventures. Continually, famed actor Leonardo DiCaprio maintains his position as an investor.
Mosa Meat, guided by Dutch Scientist, Mark Post, remains undeterred despite opposition from US Republicans who oppose lab-engineered meat. The company’s goal is to revolutionize the food industry with its environmentally-friendly alternative to traditional meat. According to them, lab-grown meat could reduce the need for livestock farming and minimise deforestation and greenhouse gas emissions.
The firm garnered €55 million in its latest funding round, showcasing confidence in the company’s vision. The funds procured will boost research, development, as well as improving the scalability and affordability of its products. In the face of adversaries arguing against use of the term “meat” for their product, Mosa Meat stands firm.
Mosa Meat’s steady growth in lab-generated products
Their focus remains on research, development, and regulatory sanctions, with an eye to launch its product in the European market in 2023.
Despite formidable challenges, CEO of Mosa Meat, Maarten Bosch is optimistic. He believes the growing interest in lab-grown meat and seafood within the US is unavoidable. Bosch strongly attests that demand for sustainable and cruelty-free products will drive demand for lab-grown alternatives. He further contends that lab-grown meat will eventually overrule any legislative hurdles, insisting on the promise of reducing global livestock farming burden.
Research indicates considerable reduction in environmental impact, air pollution and land utilization with lab-grown meat. Mosa Meat, inspired by such change, plans taste-tests of its lab-grown burgers in the Netherlands this May. They aim to garner public feedback for further refinement before a wider release.
While the Venture Capital activity experiences a slump, lab-grown meat startups must defy consolidation. Regulatory hurdles remain paramount for companies to debut in the European market as this requires approval from all 27 EU member states. Gaining approval for lab-grown meat in Europe is notoriously tough hence the industry must brace itself for these rigorous demands and prepare accordingly.
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