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New Age Meats Raises Another $2M for Cell-Based Pork

by Jennifer Marston
July 30, 2020July 30, 2020Filed under:
  • Alternative Protein
  • Biomanufacturing
  • Business of Food
  • Cultured Meat
  • Featured
  • Foodtech
  • Funding
  • Future Food
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Cultivated meat startup New Age Meats (NAM) announced today it has raised a $2 million seed extension round led by TechU Ventures. The round follows the NAM’s $2.7 million seed round from earlier this year and brings the company’s total funding to $5 million.

The Berkeley, CA company is currently developing a cell-based pork sausage and says the new funds will go towards this development. In particular, that includes bringing the price point of its product down. 

NAM will also use the funds to further build out its Food Science department, which it says is focused on getting the key attributes — taste, smell, texture, etc. — of its cell-based pork as close to the real thing as possible. On that note, the company held a taste test for its pork back in 2018 and received largely positive reviews. 

Another key element to NAM’s methods is its use of automation to optimize bioreactors and essentially grow its meat faster. Part of the new funding will go towards implementing more of this automation, as well as robotics, to speed up both the research and development processes. 

Investment in cell-based meat has already reached over $1 billion in 2020 so far, which is almost double what it was for all of 2019. Cell-based meat makes up a small-but-significant portion of that investment, and NAM’s seed extension follows funding news from BlueNalu, Integriculture, and others. 

Though the company didn’t provide a timeframe, NAM said today it plans to eventually build out a pilot facility, scale product development and production, and bring its first products to market.


Related

New Age Meats, the First Company to Debut Cell-based Pork Sausage, Raises $2.7M

Yesterday New Age Meats, a cellular agriculture developing cultured meat, announced it had closed $2.7 million in seed funding. The round was led by ff Venture Capital and other investors include Agronomics Ltd, Sand Hill Angels, Supernode Ventures, Hemisphere Ventures, Kairos Ventures and SOSV, which previously invested in the company…

New Age Meats Raises Another $2M Seed Extension Round for ‘Hybrid’ Meat

Berkley, California-based New Age Meats (NAM) has raised another $2 million seed extension round following a previous extension of the same amount last year. This round was led by “a very large, significant industry player” in Asia that must remain confidential, NAM said in a press release. The round also…

Vow Foods, Maker of Cell-Based Kangaroo and Other Meats, Raises $6M

Sydney, Australia-based company Vow Foods announced today that it has raised $6 million in seed funding to further develop alternative forms of meat — chicken, pork, and kangaroo among them. The round was led by Square Peg Capital, with participation from Tenacious Ventures and existing investors Blackbird Ventures and Grok…

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Tagged:
  • BlueNalu
  • cell-based meat
  • Integriculture
  • New Age Meats

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