Mosa Meat, the European food technology company which introduced the world’s first cultured beef hamburger in 2013, announced the first closing of $55M as part of a larger Series B funding round.
Mosa Meat will use the funds to extend its current pilot production facility at its home in Maastricht, develop an industrial-sized production line and expand its team.
The Series B funding round is led by Luxembourg-based Blue Horizon Ventures, a food technology fund.
Dr. Regina Hecker is joining the board with special focus on science, scaling and regulatory. They are joined by Bell Food Group, M Ventures and other mission-based investors and advisors.
Mosa Meat, which now has a team of 50, has reached critical technical milestones in 2019 and 2020 including an 88x reduction in growth medium cost, and removing Fetal Bovine Serum from the production process.
The company will work with regulators to demonstrate the safety of cultivated beef, in order to achieve regulatory approval to serve consumers in Europe who are craving change.