Agronomics Limited, a leading listed company in cellular agriculture, has announced that its portfolio company Mosa Meat B.V. has successfully raised EUR 40 million in new capital. The funding will be used to scale up production processes and prepare its products for market entry. The oversubscribed round was led by Lowercarbon Capital LLC and M Ventures, with participation from government-backed partners and investors from the conventional meat sector.
Mosa Meat, a global food technology company, is pioneering a cleaner, ethically sustainable way of producing real beef. The company, known for producing the world's first cultivated beef hamburger in 2013, is now preparing for the first formal tastings of cultivated beef in The Netherlands later this year. Agronomics, which invested EUR 3.5 million into Mosa Meat's Series B round in September 2020, continues to hold an equity ownership of ~1.68%, on a fully diluted basis.
Maarten Bosch, CEO of Mosa Meat, expressed gratitude for the support and emphasized the importance of collaborating to offer cultivated beef as a real choice for consumers. Jim Mellon, Co-Founder and Executive Director of Agronomics, highlighted the significance of Mosa Meat's long-term solution for beef production, particularly in addressing environmental concerns.
Mosa Meat's mission is to fundamentally reshape the global food system by providing a cleaner, kinder way of making real beef. The company is backed by a diverse group of investors and partners, including Lowercarbon Capital, M Ventures, Invest-NL, Bell Food Group, PHW Group, Mitsubishi Corporation, Nutreco, Leonardo DiCaprio, and others.
Agronomics, on the other hand, is a leading listed alternative proteins company with a focus on cellular agriculture, including precision fermentation and cultivated meat. The company has established a portfolio of over 20 companies in this rapidly advancing sector, seeking to secure minority stakes in companies owning technologies with defensible intellectual property that offer new ways of producing food and materials historically derived from animals.
The successful financing round for Mosa Meat underscores the growing interest and investment in the cultivated meat sector, positioning the company to further advance its mission of providing sustainable and ethical beef production.