Mosa Meat has successfully secured additional funding as European cell-cultivated protein companies Meatable and Believer Meats have announced their closure. Based in Maastricht, Netherlands, Mosa Meat was established in 2016 and has raised €15 million ($17.7 million), adding to the €40 million secured last year. This funding brings its total financing over the last two years to €58 million.
“This fresh financing solidifies Mosa Meat’s outlook for the coming years, supporting the company’s next phase of regulatory market approvals and first significant revenue generation,” the company stated.
Pioneering the world’s first cultivated beef burger in 2013, Mosa Meat is currently awaiting regulatory approvals from the UK, EU, Switzerland, and Singapore. The company has also been selected for the UK’s Sandbox programme, initiated by the Food Standards Agency to evaluate the safety of cell-cultivated meat products for human consumption.
So far, regulatory approvals have been obtained only in Singapore, Israel, and the US, though several states in the US are either banning or moving to restrict the sale of lab-produced alternative proteins. Mosa Meat remains committed to navigating these challenges despite the macroeconomic landscape and misinformation regarding cellular agriculture.
The urgency of the situation became evident when Meatable’s primary backer disclosed that the Dutch firm has ceased trading due to a failure to secure new investments. London-listed Agronomics confirmed that Meatable’s board and shareholders decided to dissolve the company and terminate all operations. Similarly, Israel-based Believer Meats chose a comparable route earlier in December.
Mosa Meat’s recent funding comes from existing and local impact investors, including Invest-NL, Liof, Germany’s PHW Group, and Jitse Groen, founder and CEO of Just Eat. Previous investors also include notable names such as Lowercarbon Capital, M Ventures, and Leonardo DiCaprio.
The company asserts it has achieved pricing comparable to conventional meat products in restaurants. CEO Maarten Bosch remarked, “When we introduced the first cultivated burger, it was a €250,000 proof of concept. Today, through fundamental scientific breakthroughs and scaling efficiencies, we are producing burgers at a price point ready for restaurant menus.”
Mosa Meat was founded in 2016 by scientists Mark Post and Peter Verstrate, aiming to revolutionize the food and beverage industry. Victor Meijer, an investment principal at InvestNL, emphasized the necessity for endurance in the cultivated meat sector.
“As in any emerging sector, investing in cultivated meat is challenging and requires stamina,” he stated. “Mosa Meat has built a strong foundation and is taking clear steps toward commercialization. The company’s strong team, solid progress, and continued support from existing shareholders give us confidence to continue our support in this next phase.”
The developments at Mosa Meat signify significant trends in the food and drink business, particularly as the industry adapts to emerging consumer preferences for sustainable and innovative food solutions. With a focus on regulation and commercialization, Mosa Meat is well-positioned to navigate the evolving landscape.
