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Upside Foods raises $400m in Series C funding round
Lauren Ford

Lauren Ford

22 April 2022

Upside Foods raises $400m in Series C funding round

Cultivated meat company Upside Foods has secured $400 million in a Series C funding round – an investment that will help it scale up production. The round was co-led by global investment company Temasak and the Abu Dhabi Growth Fund. Other participants included Cargill, Givaudan and Tyson Foods, as well as individual investors Bill Gates and John Doerr. The investment round, which is the company's largest to date, will support product innovation, the expansion of Upside Foods' team and its plans to build a new commercial facility to produce its cultivated meat at scale. Founder and CEO, Uma Valeti, said: "Upside has reached a historic inflection point, moving from R&D to commercialisation. Our team at Upside continues to overcome seemingly insurmountable challenges in our mission to make our favourite food a force for good." He continued: "Working in partnership with our world-class coalition of investors, we’re excited to bring delicious, sustainable and humane meat to the consumers around the world". Upside Foods, formerly Memphis Meats, recently announced its acquisition of cultivated seafood company Cultured Decadence.

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