Cleaver Carnivore, a US-based cultivated-meat business, has successfully secured $7m in a funding round. The plan is to utilize this capital to enhance its operations and expand its meat production, grown in a lab from animal cells.
Currently, Clever Carnivore is producing cultivated pork sausage and has plans to introduce its prototype product, the Clever Bratwurst, early in 2024. New York- and Hong Kong-based Lever VC spearheaded the oversubscribed seed funding round, with further investment from international entities including McWin Capital Partners, Thia Ventures, and Newfund Capital. Domestic backers included Valo Ventures and Stray Dog Capital.
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Lever VC’s managing partner, Nick Cooney, expressed his enthusiasm for Clever Carnivore’s impressive progress, particularly in terms of their low cost of production. The company’s R&D is led by co-founder Paul Burridge, leveraging his extensive research experience in cell-line development and growth media optimization.
The US is only the second country in the world to approve cultivated meat, following Singapore. In November last year, the US Food and Drug Administration (FDA) announced its support for cell-based meat products – a milestone that has since been achieved by other enterprises in the industry. With an approved facility, Clever Carnivore aims to scale up production and achieve competitive pricing for its products.
Keywords: food and beverage industry trends, food and drink business, food and drink consumer trends.
