Visionaries Bill Gates & Richard Branson Invest In Vegan Meat Company
History has been made and WAN is thrilled to help spread the word!
Memphis Meats, a leading clean meat start-up, announced today that it has gained the support of a remarkable coalition of investors in its recently completed 17-million-dollar Series A fundraising round.
Bill Gates and Richard Branson are among the many new high-profile investors in the forward-thinking company.
Based in the San Francisco Bay Area, Memphis Meats is developing new methods to produce meat directly from animal cells, without the need to breed or slaughter animals. The company released the world’s first clean meatball in February of 2016 and the world’s first clean poultry in March of this year.
The company’s Series A fundraising round, led by DFJ, a leading venture capital firm that has previously backed Tesla, SpaceX, and Skype, marks the first public commitment to the clean meat movement by top venture investors and meat industry leaders.
According to the company, in an unprecedented milestone, food industry giants such as Cargill invested in Memphis Meats during this round as well.
This is particularly significant, as noted in Fortune, “because while other parts of the food industry, such as dairy, have resisted the mainstreaming of animal product alternatives like almond milk, the move by Cargill shows the meat sector may be taking a different approach.”
Memphis Meats plans to use the funds to continue developing delicious products, to accelerate its work in scaling up clean meat production, and to reduce production costs to levels comparable to, and ultimately below, conventional meat costs.
The company expects to quadruple its headcount and has already begun growing its team of chefs, scientists creative people and business people.
“We’re going to bring meat to the plate in a more sustainable, affordable and delicious way,” explains Uma Valeti, M.D., co-founder and CEO of Memphis Meats. “The world loves to eat meat, and it is core to many of our cultures and traditions. Meat demand is growing rapidly around the world. We want the world to keep eating what it loves. However, the way conventional meat is produced today creates challenges for the environment, animal welfare, and human health. These are problems that everyone wants to solve, and we can solve them by bringing this incredible group of partners under one tent. This group will help us accelerate our progress significantly.”
Atomico, one of Europe’s largest VC firms, New Crop Capital, SOSV, Fifty Years, KBW Ventures, Inevitable Ventures, Suzy and Jack Welch, Kyle Vogt, and Kimbal Musk also participated in the round as did multiple research institutions.
The company, which has raised 22 million dollars to date, aims to bring to the market, delicious, real meat that is significantly better for the environment, animals and public health, while claiming a share of the near-trillion-dollar global market for meat.
As always, WAN promotes a plant-based diet & lifestyle for the animals sake.
This sounds like good news all the way around!