Dutch food tech startup Mosa Meat receives $55 million to expand operations
Mosa Meat, a Dutch food technology startup which introduced the world’s first cultured beef hamburger in 2013, announced the first closing of $55 million as part of a larger Series B funding round.
Mosa Meat will use the funds to extend its current pilot production facility at its home in Maastricht, develop an industrial-sized production line, expand its team, and introduce delicious cultured beef to consumers. While no date has been announced for an introduction to consumers, the company will work with regulators to demonstrate the safety of cultured beef, in order to achieve regulatory approval to serve consumers in Europe who are craving change.
The Series B funding round is led by Luxembourg-based Blue Horizon Ventures, the food technology fund that aims to support and promote a positive global impact on the environment, human health, and animal welfare. Dr. Regina Hecker is joining the board with special focus on science, scaling and regulatory. They are joined by Bell Food Group, M Ventures and other mission-based investors and advisors.
Mosa Meat, which now has a team of 50 scientists, engineers and food-lovers, has reached critical technical milestones in 2019 and 2020 including an 88x cost reduction in growth medium cost, and removing Fetal Bovine Serum from the production process.
Maarten Bosch, CEO, Mosa Meat: “We are very excited to welcome our new partners and see existing partners continue our journey together. With their support and capabilities, we have the opportunity to take the next concrete steps to scale production, make progress towards a cleaner, kinder way of making real beef, and ultimately increase the resilience, sustainability, and safety of our global food system.”
Dr. Regina Hecker, Partner, Blue Horizon Ventures: “We are excited to be joining Mosa Meat as lead investor in this round. Following a thorough investigation of its technology and team, we are convinced that Mosa Meat is strongly placed to pioneer the scale-up of cultured meat”.
The funding round follows a successful Series A round in 2018, which included investments by M Ventures, Bell Food Group, Nutreco and Lowercarbon Capital.