MIRAI FOODS Raises USD 2.4M to Prepare Commercialization of Its Non-Genetically Modified Cultivated Meat
MIRAI FOODS, the Swiss cultivated meat startup, today announced that it has recently raised USD 2.4 million in a first tranche of seed financing from backers including the food company Paulig Group and technology investment company Team Europe.
Mirai Foods AG/Lee Jiyoung
The 1 year old company, which held a very well received tasting event last summer, is now accelerating product development of their slaughter-free meat and works on transforming their prototype into a commercial product.
The company is focused not only on bringing cellular agriculture products to the market as quickly and safely as possible, but also on providing better value for their customers through a number of innovative technologies designed to offer superior health benefits in comparison to traditional meat products.
MIRAI is the only cultivated meat player in Switzerland and one of the very few ones globally that do not genetically manipulate their cells but keeps the cells as they naturally occur in the animal.
"We are proud to have such a strong and diverse pool of investors aboard for this journey" says Christoph Mayr, MIRAI co-founder and CEO. "Paulig Group, with their extensive experience in the food industry, is an ideal partner for product development and distribution. Team Europe has a super strong track record in building and supporting global players. Like us, they have a very commercially driven mindset and want to reach customers as soon as possible", he adds.
"MIRAI FOODS is a second-generation player in this field and they have been extremely fast", says Marika King, Head of Paulig's venture arm PINC. "It only took them six months to develop the first prototype and we are very excited to be part of this team's journey. It is a great fit for PINC and Paulig; we want to actively support the development of new sustainable and healthy food."
"MIRAI and Team Europe are 100% mission aligned. Both organizations believe in using technology to create a better world. We are excited to support the team in their quest to accelerate the advent of a food system that is sustainable, healthy, and ethical" says Lukasz Gadowski, Founder and CEO of Team Europe.
In total, 7 investors participated, ranging from family offices, mission aligned individuals, to biotech and high tech VC funds.
The company's long term goal is to produce and sell natural meat without the need for slaughtering animals. Importantly, no genetic modification is used in the process. Especially European consumers will appreciate that distinction. Whilst the company aims to produce a variety of product lines to maximize the impact of cellular agriculture on environmental goals, their first product will be beef, as it has the biggest greenhouse gas footprint.
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