Many companies announced the near availability of consumer product last year. So what has actually happened in the manufactured meat industry?
In 2020, more funding was made available, an actual consumer product was allowed and a first restaurant opened. These are the highlights, but much more has been going on behind the scenes.
So, the race is on!
More financing is becoming available in the industry. Start-ups that can show some lab-grown cultured cells are able to find financing to try to create a production environment.
Mosa Meat , for example, has recently concluded another round of financing. This brings the total for the company to $75 million. This follows the raising of $161 million by Memphis meats in the beginning of 2020 and $20 million by BlueNalu. Others will soon follow.
In the meanwhile, Singapore has announced that it will allow manufactured chicken meat from Eat Just as the main ingredient in a consumer product: chicken nuggets. Eat Just also followed up with a first commercial sale of cultured chicken to a restaurant in Singapore. The restaurant – the 1880 club – will be the first in the world to serve cultured chicken, on Saturday 19 December 2020. The meat will be provided by GOOD meat (owned by Eat Just).
Investment opportunities are far and few between at the moment. The industry of cultured meat is still in its infancy. Until now, there have been only very few companies publicly trading.
A private placing is the only real way to get involved at the moment. To do so, one opportunity we know of in the supply chain has recently opened in 2021 (until 20 participants have been found). This company is culturedblood, which aims to grow blood cells as a medium for meat producers.