SCiFi Foods Ceases Operations Amid Funding Challenges
SCiFi Foods, a startup engaged in developing cultivated meat, has ceased operations and initiated the sale of its intellectual property and assets through an advisory firm. The San Leandro, California-based company, originally founded as Artemys Foods in 2019, had rebranded to SCiFi Foods in 2022. The company aimed to produce a hybrid burger combining cultivated beef and plant-based ingredients to reach price parity with conventional beef. The company had raised approximately $40 million from various venture capital funds and notable investors, including the British band Coldplay, according to AgFunderNews. SCiFi Foods distinguished itself by utilizing CRISPR technology to accelerate the cultivation process and by aiming to produce hybrid burgers containing around 10% cultured meat and the remainder plant-based proteins. Technological breakthroughs The company reported achieving …