Future Meat Technologies raises record-breaking $347 million in Series B funding, while reducing cost of cultivated chicken to $7.70 per pound
Summary
It also included participation from a global investor in leading technology companies, the Menora Mivtachim pension and insurance fund which manages over $85 billion in assets, and S2G Ventures. “We are incredibly excited by the massive support of our global network of strategic and financial investors,” said Professor Yaakov Nahmias, founder and president of Future Meat. “We have consistently demonstrated that our single-cell technology and serum-free media formulations can reach cost parity faster than the market anticipates,” added Prof. Nahmias, who previously described the space as the Apollo program of the 21st century. The company produces cultivated chicken, lamb, beef, and pork with numerous environmental, health, and ethical benefits and will radically transform the global production of meat. With industry-advancing innovations, a complete portfolio of ingredients and solutions to meet any taste, and a commitment to sustainability, we give customers an edge in solving the nutritional challenges of today and tomorrow.