Eat Just, the San Francisco startup well known for its hugely successful, industry-disrupting JUST Egg, today announces it has raised $170 million in fresh funding for the expansion of its cell-based meat subsidiary GOOD MEAT. With this transaction, GOOD Meat, the world’s first cell-cultured meat to be available to consumers, becomes a subsidiary of Eat Just, which announced a $200 million fundraise this March.
“This investment points to what’s ahead: meat without killing animals will replace conventional meat at some point in our lifetimes,” Josh Tetrick
Eat Just, recently named as a “World-Changing Company of the Year” by Fast Company, reports that GOOD Meat has been recently focused on staff recruitment, technology and manufacturing infrastructure to meet the surging demand and to prepare for market entry in the USA. The company states it will quickly scale production in North America and Asia through multi-million-dollar investments in facilities in the US and Singapore.
The company also announces the JW Marriott Singapore South Beach’s famous restaurant Madame Fan will become the first in the world to replace conventional meat with cultured meat during set times. The new chef-inspired dishes include Asian-inspired chicken salad with sesame mirin vinaigrette, steamed chicken dumplings and chicken vegetable stir-fry. GOOD Meat will replace conventional chicken for delivery on Thursdays from this Thursday, 20th May, and for once-a-week dine-in starting soon.
“This investment, along with the historic decision by JW Marriott Singapore South Beach, points to what’s ahead: meat without killing animals will replace conventional meat at some point in our lifetimes. The faster we make that happen, the healthier our planet will be,” said Josh Tetrick, co-founder and CEO of Eat Just.
The latest investment came from funds managed by UBS O’Connor, a hedge fund manager within UBS Asset Management, Graphene Ventures, K3 Ventures and others.