Mosa Meat, the Dutch start-up developing cell-based proteins, has raised another US$20m in an extension to a previous funding round.
The company, which counts Switzerland’s Bell Food Group as an investor, secured $55m in an earlier stage of the same Series B financing round in September.
Mosa Meat, which introduced the world’s first cultivated beef hamburger in 2013, said the latest tranche of funding brings together “leading global investors who are dedicated to sustainability, and to supporting Mosa Meat in its mission to develop a cleaner, kinder way of making real beef”.
These include Blue Horizon Ventures, Target Global, ArcTern Ventures and Rubio Impact Ventures. Japan’s Mitsubishi Corporation also invested.
Maarten Bosch, CEO of Mosa Meat, said: “We are delighted to welcome our new partners. As well as bringing immense strategic capabilities and expertise, they share our strong commitment to increasing the sustainability of our global food system.”
Mosa Meat said it will use the funds to extend its pilot production facility in Maastricht, develop an industrial-sized production line, expand its team and introduce cultivated beef to consumers.
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However, the company has yet to announce a date when it plans to launch products to consumers.