Future Meat Technologies is trying to do for lab-grown meat what Beyond Meat and Impossible Foods have done for plant-based meat.
S2G Ventures, a Chicago-based venture capital fund that invests in food and agriculture, and Emerald Technology Ventures, a Swiss-based firm, led the $14 million round, Future Meat announced Thursday.
By recycling some parts of the media and using lower-cost nutrients, Future Meat is working to reduce the high costs of making lab-grown meat.Future Meat has managed to reduce production costs to $150 per pound of chicken and $200 per pound for beef. In February 2018, Future Meat's co-founder and chief scientist Yaakov Nahmias said the company had brought the production price down to $800 per kilogram and would reach $5 to $10 per kilogram by 2020.Like Impossible Foods, Future Meat plans to focus primarily on beef and to start selling its products first to restaurants, then to retailers.
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