Zurich’s MIRAI Foods, which claims to be the first and only Swiss cell-cultured startup, has today announced an additional USD 2.2 million funding raise in its second financing round. Following the closing of its first round in January, this brings its total seed funding to date to USD 4.5 million.
Founded in 2019, MIRAI sets itself apart by claiming to be one of the very few cell-cultured meat producers globally that does not genetically manipulate its cells. EU consumer tastes and preferences are at the heart of its product development, and it will focus its attention firstly on beef production, as it has the largest greenhouse gas footprint.
The company will use the funds to accelerate product development through expanding the team, improving in-house lab capabilities, and building a pilot production plant. MIRAI will move into their new lab and office space this summer. It remains to be seen if MIRAI will pursue the name “Cell-cultured” to describe its forthcoming products, following news that the United States Food and Drug Administration (FDA) has accepted the term for use.
“With the additional investment, we are in an excellent position to strengthen the team and speed up our research. This investment is critical for our mission to provide delicious, high quality cultivated meat at a fair price. Our partners not only share our mission but also have great strategic and operational capabilities”, says Christoph Mayr, Co-Founder and CEO of MIRAI.