Good Meat, a new division of Eat Just, Inc., which produces meat from animal cells instead of slaughtered livestock, secured $170m in funding.
Backers included funds managed by UBS O’Connor, a hedge fund manager within UBS Asset Management, Graphene Ventures, K3 Ventures and others.
The company intends to use the funds to increase capacity and accelerate research and development for real meat without slaughter.
In recent months, Good Meat has been focused on expanding the team, technology and manufacturing infrastructure in Singapore and to prepare for market entry in the United States. The company will scale production in North America and Asia through multi-million-dollar investments in facilities in the U.S. and Singapore while evaluating collaboration and acquisition opportunities in the sector. Since securing the regulatory approval, Good Meat has been enjoyed customers at a Singapore restaurant and in people’s homes through a partnership with foodpanda, Asia’s leading food and grocery delivery platform.
FinSMEs
19/05/2021