Australian cultured meat startup Vow Foods, producer of traditional meats as well as more obscure meats like kangaroo, alpaca and water buffalo, recently announced the closing of an oversubscribed $6 million seed, to further research and develop its cultured meat products to surpass conventional meat in quality and taste.
Vow Reduces Workforce by One-Third as It Seeks Fresh Investment Amid Regulatory and Market Challenges
Sydney-based cultivated meat startup Vow has announced the layoff of 25 employees, accounting for nearly a third of its workforce, as the company seeks to secure new funding to extend its operational runway into 2027. Startup Daily reports that the redundancies, described as a “painful but necessary decision” by CEO George Peppou, reflect the broader challenges faced by startups operating in the cultivated meat sector, which requires navigating complex regulatory landscapes and securing investor confidence in a tightening funding environment. Despite its growing international footprint, Vow has yet to receive regulatory approval to serve its products in its home market of Australia. The company submitted its application to Food Standards Australia New Zealand (FSANZ) in 2023, with FSANZ launching a second round of public consultation …