Germany-based Innocent Meat, a company creating an end-to-end system to enable meat producers to transition to cell-based meat, announced that it has secured €3M in a fresh round of financing.
The investors in this round include Venture Capital Fonds MV, contributing €500K, and a new private investor, with €2.5M.
Capital utilisation
Innocent Meat says this funding will support the development of biocomponents, scale-up of the pilot plant, and commencement of certification processes.
Laura Gertenbach, CEO of Innocent Meat, says, “We are very pleased to have such an innovative and strong partner like the University of Rostock to make more sophisticated cultured meat products.”
“Since we moved into the department Life, Light & Matter, we have made an excellent experience how academies and startups work hand in hand to create a sustainable value.”
Enabling meat producers to transition to cell-based meat
Founded in 2020 by Laura Gertenbach and Patrick Nonnenmache, Innocent Meat is striving for a comprehensive solution for cultured meat production through an automated, end-to-end system.
The startup aims to democratise cultured meat production, enabling any company to produce it. The goal of the cultured meat industry is to attain price parity with traditional meat products.
Innocent Meat highlights its transition from laboratory-scale production to a perfusion bioprocess, facilitating a cost-efficient continuous method.
The company claims to have secured two funding projects totalling over €1M. Collaborating with the University of Rostock, they are establishing a production platform for recombinant proteins called FABA.BIO.
In August 2023, Innocent Meat developed an FBS-free proliferation medium for porcine primary cells, replacing traditionally used Fetal Bovine Serum (FBS) with growth factors from molecular farming techniques, marking an advancement towards sustainable cultured pork production without large-scale breeding and slaughter.
