Cultured beef firm Mosa Meat secures $55m in funding

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Dutch food-tech firm Mosa Meat has secured an investment of $55 million as part of a larger Series B funding round.

Mosa Meat, which introduced what it says was the world’s first cultured beef hamburger in 2013, plans to use the funds to extend its pilot production facility in Maastricht.

In addition, capital from the first closing of Mosa’s Series B will be used to expand the company’s team and develop an industrial-sized production line.

According to Mosa, the new investment will also support the introduction of its product to consumers. While no date has been announced for this next step, the company says that it will work with regulators to demonstrate the safety of cultivated beef, in order to achieve regulatory approval for the European market.

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