Israeli cultured meat firm Future Meat Technologies has secured $347 million in a Series B funding round, as it looks to accelerate its plans for the mass production of its cultivated meat in the US.
The round was co-led by ADM Ventures, the corporate venture capital arm of ADM, and included participation from insurance company Menora Mivtachim, Tyson Foods‘ Tyson New Ventures, ADM Capital (Cibus Fund) and others.
Future Meat’s founder and president, Yaakov Nahmias, said: “This financing consolidates Future Meat’s position as the leading player in the cultivated meat industry, just three years after our launch”.
He continued: “Our singular technology reduced production costs faster than anyone thought possible, paving the way for a massive expansion of operations. Our team will break ground on the first-of-its-kind, large-scale production facility in the US in 2022.”
Earlier this year, Future Meat opened the “world’s first” industrial cultured meat facility in Israel.
© FoodBev Media Ltd 2021
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