MAASTRICHT, THE NETHERLANDS — Cultivated meat company Mosa Meat has raised $42.9 million in funding.
Mosa Meat, which introduced the world’s first cultivated beef hamburger grown directly from cow cells, according to the company, said it will use the funds to scale up its production process, drive down the cost of production and prepare for market entry.
The round was led by Lowercarbon Capital and M Ventures.
Invest-NL, LIOF, Limburg Energy Fund, PHW Group, XO Ventures, Doux Investments, InvestEU along with others joined the round.
“The overall macroeconomic landscape has been rough in the last two years, which has culled the herd of companies and forced us to be even more strategic and focused on achieving our mission,” said Maarten Bosch, chief executive officer of Mosa Meat. “As such, we are humbled and honored to welcome both public parties and conventional meat producers to join this critical journey.”
The company raised $55 million as part of a larger Series B funding round in 2020.
Those funds were used to expand its pilot production facility in Maastricht, develop an industrial-sized production line and introduce cultivated beef to customers.
Academy Award-winning actor and environmental activist Leonardo DiCaprio also invested in the company in 2021. Financial terms were not disclosed.
The company scaled up its production by expanding its pilot facility to 77,000 square feet in Maastricht in 2022.
After opening its scale-up facility and becoming a B Corp. last year, the company is preparing for the first tastings of its cultivated beef in The Netherlands.Enjoying this content? Learn about more disruptive startups on the Food Entrepreneur page.
