Tuesday, December 21, 2021

Big Money: "...ADM, Tyson back cultivated meat company Future Meat in record-breaking $347m round" (ADM; TSN)

 From AgFunderNews, December 20:

  • Israeli cultivated meat startup Future Meat has raised $347 million in funding.
  • In a statement, US agribusiness major ADM said it co-led the Series B round through its ADM Ventures unit alongside an “unnamed global investor in technology companies.” US meatpacker Tyson Foods and food manufacturer Rich’s also participated via their VC arms, as did Menora Mivtachim, S2G Ventures, Manta Ray Ventures, Emerald Technology Ventures, Cibus Fund, Bits X Bites, and the Sander Group. 
  • Future Meat will use the proceeds to construct a production facility in the US, potentially in Boston or Minneapolis, founder and president Yaakov Nahmias told Bloomberg.

Why it matters:

Future Meat’s $347 million Series B is the largest single fundraise for a cell-cultured meat company to date, according to AgFunder data [disclosure: AgFunder is AFN‘s parent company.]....