Finless Foods Obtains Funding for Clean Meat

kulitivertes Fleisch (in-vitro-fleisch) im Labor
© tilialucida – stock.adobe.com

For some time now, attempts have been made to cultivate meat in the laboratory in order to offer a solution to the problems prevalent in the meat industry. Various start-ups are working on this, attempting to produce pork, beef and poultry synthetically. But Finless Foods is working to provide fish lovers with an alternative, and hopes that financial support will bring it one step closer to the goal of launching the product.

The company specialises in the production of clean meat which resembles fish meat, using a small quantity of animal cells in the laboratory. Just recently, the Californian technology company received 3.5 million dollars from the investment company Draper Associates, amongst others. The company intends to use the new capital to begin production, which involves very high costs. But Mike Seldon, CEO of Finless Foods, is certain that the release will not take decades. “We have already drastically reduced costs and secured valuable cell material that will drive us into rapid commercialization within years, not decades,” Seldon said. At present, production costs 19,000 US dollars per pound.

Start-ups around the world are aiming to reduce the number of animals slaughtered for food. These include JUST, Wild Earth, and BluNalu. The demand for meat alternatives, including for fish, is there, according to initial trend analyses. According to a recent market forecast report, this market will continue to grow.