Scotland’s Roslin Technologies has raised £11 million in a Series A funding round, fuelling its mission to become the leading provider of animal cell lines for use in cultivated meat. The round was led by life sciences investor Novo Holdings.
Roslin is notable for being the only commercial supplier of pluripotent stem cells, which can self-renew infinitely and grow into numerous types of animal tissue. The company already supplies customers in North America, Europe, Asia, and the Middle East.
With the help of the funding, Roslin will expand its cell line portfolio and further develop protocols to scale up its cells into cost-competitive biomass for meat production.
In the summer of 2021, Roslin appointed new CEO Ernst van Orsouw in order to begin a commercialisation drive for its stem cell platform. Five months later, the company received a £1 million grant from the UK government to further develop its portfolio.
Then, last month, Roslin revealed it had developed an innovative new technology to remove variations between batches of cells. The company believes this could reduce the cost of cell culture media by 61%.
“We are excited to welcome Novo Holdings and other investors on our journey to improve the food system. With the investment and strategic support, we can accelerate the development of better cells for the sector and focus on making our customers successful,” said van Orsouw.