Memphis Meats, a developer of technologies to create flesh, seafood and poultry from animal cadres, has raised $161 million in financial assistance of investors, including Softbank Group, Norwest and Temasek, the investment fund backed including the government of Singapore.
The investment fetches the company’s total financing to $180 million. Previous investors include individual and institutional investors like Richard Branson, Bill Gates, Threshold Ventures, Cargill, Tyson Foods, Finistere, Future Ventures, Kimbal Musk, Fifty Years and CPT Capital.
Other fellowships, including Future Meat Technologies, Aleph Farms, Higher Steaks, Mosa Meat and Meatable, are pursuing meat grown from cadre cultures as a replacing for animal husbandry, whose environmental impact is a large contributor to deforestation and climate change around the world.
Innovations in computational biology, bio-engineering and materials science are creating new opportunities for companies to develop and commercialize technologies that have been able to supplant traditional farm with new ways to produce foods that have a much lower carbon footprint and bring about an age of superabundance, according to investors.
The race is on to see who will be the first to market with a product.
“For the entire manufacture, major investments of this sizing strengthens confidence that this technology is here today rather than some far-off future endeavor. Once there is a” proof of concept” for raised flesh — a commercially available product at a reasonable rate time — this should intensify interest and be invested in the industry ,” said Bruce Friedrich, the managing director of the the Good Food Institute, in an email. “This is still an manufacture that has bounced up almost overnight and it’s important to keep a sense of perspective now. While the idea of raised flesh has been seeping for close to a century, the very first prototype was only rendered six years ago .”
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