UK investment company Agronomics Limited announces that further to its investments in LegendDairy Foods, Meatable, Oritain and BlueNalu, it has completed a fundraise of £5.5 million through the issue of 78,571,429 shares at a price of 7.0 pence per share.
The company, which is focused on “environmentally friendly alternatives to the traditional production of meat and plant-based sources of nutrition”, says that following the receipt of the fundraise proceeds, it will have approximately £9.9 million available for investment.
Its website states that the company will provide shareholders with exposure to a portfolio of companies in the area of cultured and plantbased meats, adding that the sector that is set to disrupt the $7.3 trillion global meat, poultry and seafood market.
Richard Reed, Non-Executive Chairman, Agronomics commented: “The amount of capital being deployed into the cultivated meat sector globally is set to increase dramatically in 2020, with significant raises already being witnessed. With this fund raise, Agronomics is well placed to maintain its support to its existing portfolio companies and explore new opportunities within this transformative industry when the world needs it most.”