In Isle of Man, Mosa Meat has raised €40 million (US$47 million) to scale and commercialize cultivated beef.
The oversubscribed round was led by Lowercarbon Capital LLC and M Ventures, part of Merck Group. New investors include government-backed partners including Invest-NL, InvestEU, Limburg Institute for Development and Financing and the Limburg Energy Fund. Additional new partners with a background in the conventional meat sector also participated in the round, including the PHW Group, one of Europe’s largest poultry producers, alongside XO Ventures.
Mosa Meat, a portfolio company of cellular agriculture leader Agronomics, was founded in 2016 by individuals who created the world’s first cultivated beef hamburger in 2013. The company is currently preparing cultivated beef tastings in the Netherlands later this year.