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Eat Just s cell-grown meat nets largest funding round in sector history - San Francisco Business Times
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Eat Just s cell-grown meat division scores largest funding round in sector history
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GOOD Meat, a division of Eat Just, secures $170m funding
Photo: Eat Just
May 19, 2021 US-based alternative protein maker Eat Just Inc’s GOOD Meat division has secured $170 million in new funding, which will be used to increase the capacity and accelerate research and development for non-slaughtered meat.
Backers of the investment include funds managed by UBS O’Connor, Graphene Ventures, and K3 Ventures.
With this transaction, GOOD Meat, which produces cultured meat from animal cells, becomes a subsidiary of Eat Just, which has operations in Singapore.
GOOD Meat chose to launch its cultured chicken first in Singapore as the country’s regulatory environment is supportive of food innovation and alternative protein sources, according to its website.
Eat Just recently secured a $170 million funding round to bulk up its manufacturing and propel its new Good Meat brand – a subsidiary that will develop cell-based meat products – into production.
Eat Just is well known for its plant-based JUST Egg products, but the company plans to expand its range to encompass other proteins. The funding round will allow the company to scale up its new cell-based protein products, specifically its cultured 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,” co-founder and CEO of Eat Just Josh Tetrick said. “The faster we make that happen the healthier our planet will be.”
Eat Just Inc. s GOOD Meat division has secured $170m in new funding to scale production of its cell-cultured chicken (and R&D into other animal protein including beef and pork) in North America and Asia through multi-million dollar investments in facilities in the US and Singapore.
With the funding news, GOOD Meat becomes a subsidiary of Eat Just, which
The latest investment from funds managed by UBS O’Connor, a hedge fund manager within UBS Asset Management,
Josh Tetrick, co-founder and CEO of Eat Just: We want to get below the cost of animal protein. Graphene Ventures, K3 Ventures and others, will be used to increase capacity and accelerate research and development for meat made without slaughter. ABG, LLC; BofA Securities, Inc.; Guggenheim Securities, and VERSO Capital advised on the transaction.
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