Founded in 2018, Future Meat Technologies attracted the attention of Chicago-based venture capital fund S2G Ventures and Swiss-based firm Emerald Technology Ventures, which helped the startup raise the impressive $14 million. S2G Ventures’ managing director, Matt Walker, said in an interview:
What we think separates Future Meat is that they have an actual plan to get to commercially viable price points that doesn’t require massive capital expenditures or future breakthroughs.
Future Meat will use its new influx of cash to build a manufacturing facility and expand its research and development, with plans to release hybrid products that blend plant-based protein with cultivated fat in 2021. Cultivated fat is made from cells just like cultivated meat. By 2022, the company hopes to launch a line of completely cultivated meat that will cost less than $10 a pound!
The company plans to follow in Impossible Foods’
footsteps, focusing on beef and selling its products in restaurants before moving them to retailers. Future Meat CEO Rom Kshuk stated:
I’m just a student of what Impossible and Beyond are doing. I think we’ve agreed that there is that portion of the consumer base that would rather not eat animals if they can avoid it.
While Future Meat is definitely heading in the right direction, it is just one of the dozens of startups around the globe racing to be the first to develop affordable cultivated meat.
Animal agriculture accounts for the daily suffering of billions of factory-farmed animals. Even if cultivated meat isn’t for you, it has enormous potential to foster positive global change.
Tons of delicious, totally plant-based options are already available at a grocery store near you! For fantastic vegan meal ideas and recipes, order a FREE Vegetarian Starter Guide