Future Meat Technologies today announced that it has closed a $14 million Series A funding round led by S2G Ventures and Emerald Technology Ventures
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New Investment by Emerald Technology Ventures -
Future Meat Technology Raises $14 million

Zurich-Toronto-Singapore, October 10th, 2019 Future Meat Technologies today announced that it has closed a $14 million Series A funding round led by S2G Ventures a Chicago-based venture capital firm and one of the forces behind Beyond Meat’s IPO, and Emerald Technology Ventures, a Swiss-based venture capital firm recognized for its leadership in industrial innovation. They were joined by investors Henry Soesanto, the CEO of Monde Nissin, one of the largest producers of meat alternatives,  Manta Ray Ventures, a UK based venture capital firm, and BitsXBytes, a Chinese food and agriculture tech VC.

Founded in 2018, Future Meat Technologies is pioneering the cost-efficient, GMO-free production of meat directly from animal cells, without the need to raise or harvest animals. The company has a highly sustainable manufacturing model resulting in 99% less land use and 80% less greenhouse gas emissions than traditional meat. Funding will be used to expand R&D efforts and build the world’s first cultured meat pilot production facility, estimated to begin operations in 2020, south of Tel Aviv. 

“With this investment, we’re thrilled to bring cultured meat from the lab to the factory floor and begin working with our industrial partners to bring our product to market,” said Rom Kshuk, CEO of Future Meat Technologies. “We’re not only developing a global network of investors and advisors with expertise across the meat and ingredient supply chains, but also providing the company with sufficient runway to achieve commercially viable production costs within the next two years.” 

Future Meat Technologies’ groundbreaking process utilizes the rapid growth of connective tissue cells, called fibroblasts, to reach high densities before turning the cells to cultured muscle and healthy fats. The company aims to introduce hybrid products – combining plant proteins for texture and cultured fats that create the distinct aroma and flavor of meat. With current small-scale production costs of $150 per pound of chicken and $200 per pound of beef, Future Meat Technologies plans to release its hybrid products at a competitive cost level from its pilot production facility by 2021 and launch a second line of 100% cultured meat products at a cost of less than $10 per pound by 2022. 

“We see cell-based meat as a promising path to a more sustainable future food system, reducing emissions as well as water and energy intensity, while at the same time improving human health impact and animal welfare” said Hans Dellenbach, Partner at Emerald Technology Ventures. “The Future Meat team has developed a technology platform and roadmap that offers the fastest and most efficient route to market for cell-based meat that we’ve seen to date.”

This Series A funding marks the second largest investment round in the cultured meat sector to date, indicating significant interest from the financial community in the entire meat market – amid growing demand for sustainability in the face of deforestation and climate change.
 
About Future Meat
Future Meat Technologies is developing a pioneering platform for the cost-efficient, non-GMO production of meat directly from animal cells, without the need to raise or harvest animals. Future Meat Technologies focuses on developing a new generation of manufacturing technology that enables the cost-efficient production of fat and muscle cells, the core building blocks of meat.
www.future-meat.com
 
About Emerald Technology Ventures
Emerald is a globally recognized investment firm in the areas of energy, water, advanced materials and industrial IT. Founded in 2000, the company has raised four Venture Capital Funds, completed more than 60 venture investments, been a trusted partner for numerous multi-national corporations in their open innovation activities and managed four technology investment programs for third parties. From offices in Zurich, Switzerland and Toronto, Canada and Singapore, Emerald has managed assets of over USD 660 million to date. 
www.emerald-ventures.com
 
For more information please contact:

Emerald Technology Ventures
Hans Dellenbach, Partner and CFO
Seefeldstrasse 215
8008 Zurich, Switzerland
Tel +41 44 269 61 00
hans.dellenbach@emerald-ventures.com