The Bell Food Group, a major European meat processer, has upped its investment in Mosa Meat, the Dutch start-up pioneering lab grown meat.
The new financing round in Mosa Meat – which introduced the world’s first cultured hamburger back in 2013 – is intended for the commercial production and marketing of cultured beef.
The Group said this €5 million investment “reinforces its ambition to actively participate in shaping new trends in the convenience food sector and play a leading role in the booming market for alternatives to meat”.
The aim of this financing round is to raise money for the construction of an industrial production plant and drive forward the development and scaling-up of the technology.
An additional goal is to have the product admitted to the market in Europe by 2022. Mosa Meat wants to be the first company to launch a cultured meat product on the European market.
Bell Food had already taken a €2 million share in the Mosa Meat start-up in 2018. It supports Mosa Meat’s development and research work with its expertise and know-how as one of the leading producers and marketers of meat and charcuterie products in Europe.
Mosa Meat has developed a technology for producing cultured beef directly from animal cells.
The co-founder and head of research at the company is Professor Mark Post of the University of Maastricht, who has a global reputation as a pioneer in the production of cultured meat.