Californian cultured meat startup New Age Meats has raised $2M in funding via convertible debt. This seed extension funding brings the total amount raised by the company to $7M.
Berkeley’s New Age Meats Raises $25M for Hybrid Pork Sausage Production
Cell-cultured meat company New Age Meats has announced a $25 million Series A funding raise. The funding will allow the Berkeley-based company to begin production of its first cell-cultured and plant-based hybrid pork products by 2022. New Age Meats, which was founded in 2018, will also use the Series A funding to double its workforce, and in a crucial milestone for the company, build a 20,000-square-foot pilot manufacturing facility in Alameda, California. The company’s first product line will be a variety of sausage products, with an eye towards large pork consumers like China. New Age Meats claims its production process is designed to scale up quickly to meet demand in such rapidly growing markets. In an interview with vegconomist, New Age Meats CEO Brian Spears …
