Mosa Meat, the European clean meat technology startup that introduced the world’s first cultivated beef hamburger in 2013 has now announced the second closing of its Series B funding. The latest amount is around £15 million and it brings the total raised so far in the round to £56 million.
The funding brings together leading global investors including Blue Horizon Ventures, Target Global, ArcTern Ventures and Rubio Impact Ventures.
Netherlands-based 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 cultivated beef to consumers.
The Series B funding round is led by Luxembourg-based Blue Horizon Ventures. This food technology fund aims to support and promote a positive global impact on the environment, human health, and animal welfare. Mosa Meat welcomes this strong group of mission-aligned investors only two years after its successful Series A funding, which was led by M Ventures and Bell Food Group. So far the Dutch startup has raised around £74 million since founded in 2016.
Mosa Meat is led by Prof Mark Post, the “founding father of cultured meat”. They aim to commercialise cultured meat and make it a hugely popular product and to curb the harmful effects of livestock meat production. Their team consists of around 30 members, led by our CEO Maarten Bosch.
The first burger of Mosa meat cost €250,000 to produce. It was funded by Sergey Brin, the co-founder of Google. The burger was this expensive in 2013, but now they’re gradually reducing the cost with more and more research.
When will it be available?
In a blog post company points, “We are aiming for a first market introduction in the next few years. It is very difficult to commit to a particular timeframe because there are still some scientific unknowns and factors outside our control (such as the regulatory process). The first introduction will likely be small-scale. Several years beyond that, we aim to be widely available in restaurants and supermarkets.”