March 19, 2021
 

Swiss cultivated meat startup increases seed funding to more than US$4 million

MIRAI Foods, one of Switzerland's cultivated meat start-up company, announced on March 15 that they had raised an additional €1.8 million (US$2,143,323.00) in its seed financing, bringing its total funding of the seed round to approximately €3.7 million (US$4,405,590).

MIRAI Foods' backers included FRIBA Investment, VC Skyviews Life Science, Paulig and Zürich-based serial entrepreneur and tech investor Ulf Claesson.

"With the additional investment, we are in an excellent position to strengthen the team and speed up our research. This investment is critical for our mission to provide deliciously, high quality cultivated meat at a fair price. Our partners not only share our mission but also have great strategic and operational capabilities," said Christoph Mayr, co-founder and CEO of MIRAI.

"Cultivated meat will be a key contributor to a sustainable global food system. At the interface between food science and tissue engineering, MIRAI is one of the leading next generation companies and we are delighted to be part of their journey," said Stefan Catsicas, managing partner at Skyviews Life Science.

The funds will be used to accelerate product development through improving in-house lab capabilities and building a pilot production plant. MIRAI will move into its new lab and office space this summer.

MIRAI Foods was founded in 2019 with a long term goal to produce natural meat without the need for slaughtering animals. No genetic modification is used in the its proprietary process that is focused on producing healthy products with EU consumers' preferences in mind.

MIRAI aims to produce a variety of product lines to maximise the impact of cellular agriculture on animal welfare and environmental goals.

 - EU Startups