In the Netherlands, Mosa Meat has raised €15 million (US$17.7 million) in funding to bring down the price of cultivated meat.
In 2013, Mosa Meat’s founders had the distinction of unveiling the world’s first cultivated beef burger. While a significant milestone, the burger’s €250,000 price tag also set the stage for cultivated meat’s biggest challenge: cost.
“Today, we are producing burgers at a price point ready for restaurant menus,” CEO, Maarten Bosch, said in a press statement. “With the backing of our world-class investors, we have successfully turned a science project into a tasty and affordable product without compromising on our original vision.”
Participants included Invest-NL, LIOF, PHW Group, and Jitse Groen, founder and CEO of Just Eat Takeaway.com.