Swiss meat manufacturer Bell Food Group has increased its investment in Mosa Meat to help the Dutch start-up commercially produce and market its cultured beef product.
By investing an extra €5 million into Mosa Meat, Bell Food Group aims to reinforce its position in the meat alternatives market and actively participate in shaping new trends. Bell Food Group had already taken a €2 million share in Mosa Meat in 2018, during a Series A funding round.
With its latest financing round, Mosa Meat plans to construct an industrial production plant and further develop and scale-up its technology.
The start-up also aims to have its cultured beef product, created directly from cow cells, admitted to the market in Europe by 2022, making it the first company to do so.
Mosa Meat’s first pilot production plant will commence operation in 2021. Meanwhile in the course of 2022, the first industrial production line will start and the company’s first products will be launched on a small scale in selected restaurants.
Plans are also reportedly in place to commission the first high-volume production plant by 2025.
At the beginning of this year, Mosa Meat entered into a strategic partnership with Nutreco and Lowercarbon Capital. Both companies joined M Ventures and Bell Food Group among other investors who have funded Mosa Meat throughout its development.
Earlier this month, Bell Food Group announced the divestiture of its production plants in Perbál, Hungary and Saint-André, France, as part of ongoing restructuring of its international charcuterie activities.
© FoodBev Media Ltd 2020