NEWS COMMENTARY

Memphis Meats looks to commercialize cell-based meat with $161 million Series B funding

Published:
January 24, 2020
Services:
Consumer
Activities:
Investment
Very important

This funding round was led by Temasek, SoftBank Group, and Norwest, with participation from several other investors, including previous ones like Cargill and Tyson Foods. Memphis is the first company in the fast-growing cell-based meat space to raise Series B funding. With about $180 million in funding raised to date, the company hopes to build a pilot production facility and further the commercialization of clean meat products in coming years. Despite this influx of cash, Memphis still has an arduous task in terms of developing cost-efficient serum-free media to achieve cost parity. Nevertheless, cell-based meat will be an important part of the future of proteins, opening up multiple investment and partnership opportunities for clients.

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