New Age Meats' cultivated pork sausages
Cultivated meat start-up New Age Meats has raised $2 million in a Seed extension round led by deep-tech investment firm, TechU Ventures.
Founded in 2018, New Age Meats specialises in the cellular agriculture of pork. With the aim of helping to build a more sustainable supply of protein, the company is working to bring a cultivated pork sausage to market.
FF Venture Capital, the lead investor in the company’s previous round, also participated in the extension, along with other prior backers such as Sand Hill Angels.
In addition, the Losa Group and members of San Diego Tech Coast Angels supported New Age in this latest round.
The California-based company says that the new funds will allow it to further expand its food science department, implement more automation and robotics, and reduce the cost of its first sausage product.
Natanel Barookhian, the managing partner of TechU, has reportedly joined the New Age board as an observer.
Brian Spears, New Age Meats CEO, said: “Food science is incredibly important to our overall mission. We make meat that consumers prefer to conventional meat. That requires us to invest in understanding how we perceive animal protein.
“What is the science behind the experience of smelling, seeing and eating tasty meat? The mission of our company is to make safer meat without slaughter, but we will never be successful unless our products are delicious. With an expanded food science department we are able to deliver on that promise.”
© FoodBev Media Ltd 2020
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