In Indiana, Liberation Labs is set to launch a Series A financing round to help build its $115-million facility in Richmond.
The company was formed to address the growing fermentation capacity gap in cellular agriculture by providing the industry with the infrastructure to commercialize novel protein manufacturing at the scale and cost structure required by the market. It broke ground on the Richmond facility in June. The site will be able to produce about 600,000 liters of protein.
Axios says the upcoming financing could raise as much as $75 million for the precision fermentation biomanufacturing firm. Set to close by the end of the year, the Series A would bring Liberation Labs’ total fundraise to $126 million.