In Vancouver, cultured meat company Eat Just Inc. has raised $170 million for its GOOD Meat subsidiary. The announcement comes just a few months after a $200-million financing round that brought Eat Just to a valuation of $1 billion.
The new funding will help GOOD Meat increase capacity and accelerate research and development for cultured meat.
Eat Just made history late last year when it claimed the world’s first cultured meat product sale. The lab-grown meat in question—chicken—was ordered at a Singapore restaurant. It is now also available in limited quantities for delivery in Singapore from foodpanda, Asia’s version of Grubhub.
“There is significant interest in and growth potential for cultured meat, pending regulatory approval from more government regulators globally,” Patrick Morris, CEO of Eat Beyond, said in a press statement. “GOOD Meat offers a humane, safe product that is designed to feed the planet without the plethora of negative externalities associated with traditional factory farming.”
Morris adds that old model of animal protein production has a “massive” carbon footprint and consumes large amounts of water, land, and other resources while exposing the world to potential zoonotic diseases. “We are excited to continue to be a part of the Eat JUST story and its impact on our food systems,” he says.