Investments & Finance

Agronomics Leads Pre-Seed Funding Round For Cultivated Wagyu Beef Producer Ohayo Valley

Investment company Agronomics, which has a focus on cellular agriculture, has led the pre-seed funding round for cultivated meat company Ohayo Valley.

Ohayo is developing cultivated Wagyu ribeye steak, with plans to produce other beef products. The company was co-founded last year by Dr. Jess Krieger, who was previously the CSO at cultivated meat company Artemys Foods.

Agronomics has completed a subscription of $1.5 million in Ohayo, in the form of a Simple Agreement for Future Equity (SAFE). The company will pay for the subscription using its own resources.

© Agronomics Limited

It is expected that the SAFE will convert into preferred shares in Ohayo Valley at a future equity financing round of at least US$ 1.5 million. This will grant Agronomics approximate equity ownership of 18.75% and the right to a board seat.

The subscription is the latest in a series of alt-protein investments for Agronomics — the company has recently funded The Every Company, BlueNalu, Rebellyous, and more. Ohayo has also recently received funding from CULT Food Science, an investment company with a focus on the future of food.

“We are thrilled to work with Agronomics to achieve our mutual goal to create a sustainable and secure food system in the era of the anthropocene,” said Dr. Jess Krieger, co-founder and CEO of Ohayo Valley. “The challenges facing human civilization are massive, but so are the opportunities to redesign entire industries to optimize efficiency. Consequently, we are rapidly approaching a new agricultural paradigm through radical innovation of animal products. The cultivated meat industry provides a future where the traditions, culture, and community that are essential to our identities are preserved, while simultaneously creating a more sustainable and ethical food system. We’re grateful to work with Agronomics to make our shared vision of the future a reality.”

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