GOOD Meat announced this week it has secured $170 Million in funding to scale up production of its slaughter-free meat. The deal for the team behind the ‘world’s first-to-market meat made from animal cells instead of slaughtered livestock’ makes it a subsidiary of Eat Just.
A milestone investment for slaughter-free lab grown meat that is free from growth hormones and antibiotics, it is backed by investors including UBS Asset Management, Graphene Ventures, and K3 Ventures. And is another major step forward for an innovation on course to heavily impact the future of food.
In further good news for cultivated meat this week, JW Marriott Singapore South Beach’s famous Cantonese restaurant Madame Fan, announced it will become the first in the world to swap conventional meat with cultivated meat during set times, as GOOD Meat is to be used in place of chicken.
“This investment, along with the historic decision by JW Marriott Singapore South Beach, points to what’s ahead: meat without killing animals will replace conventional meat at some point in our lifetimes. The faster we make that happen, the healthier our planet will be,” said Josh Tetrick, co-founder and CEO of Eat Just.
Pressing home the need for funding that can fast track cultivated meat’s potential to reshape the food industry, Bruce Friedrich, the Good Food Institute Executive Director, added: “Cultivated meat’s market share will remain just a fraction of the overall market for conventional meat unless governments fund basic R&D and incentivise private sector activities that enable the industry to scale. Continued investment is critical to ensure that cultivated meat can meet the moment—providing a more sustainable, safe, and secure way of feeding people with far fewer greenhouse gas emissions, far less land and water required, and no contribution to antibiotic resistance and pandemic risk.”