Coldplay-backed cultivated meat startup rebrands and raises $22 million

In San Francisco, a cultivated meat startup that counts rock group Coldplay among its investors has changed its name from Artemys Foods to SCiFi Foods and raised $22 million in a Series A funding round. 

The company hopes to launch beef burgers made of both lab-grown cells and plant protein. 

According to Green Queen, Andreessen Horowitz led the latest investment round with participation from Valor Siren Ventures, Box Group and Entree Capital. “Cultivated meat will disrupt the trillion-dollar global market for meat products, with huge benefits to the planet,” Vijay Pande, general partner at Andreessen Horowitz said in a statement. “However, there are major cost hurdles, and SCiFi’s technology and approach was the first we felt that truly has the potential to both scale quickly and to drastically reduce cost.”

The Series A brings SCiFi Foods’ total funding to $29 million, although it was unclear if Coldplay participated.