Blue Horizon leads €47m series-B for Mosa Meat

Also taking part in the investment were Nutreco, Agronomics, Swiss meat producer Bell Food Group, and M Ventures, the corporate venture arm of pharmaceutical company Merck.

Blue Horizon invested via its food-technology-focused vehicle, Blue Horizon Ventures I, which launched in 2018 with a €150m target and €200m hard-cap. The fund aims to support companies developing a more sustainable food system through innovation and technology. Plant-based proteins, cellular agriculture and clean meat are its main focus areas. The vehicle sources its investment opportunities globally, but with a focus on Europe.

The VC told Unquote that the fund expects to hit its hard-cap in a final close by November 2020. It has deployed around €70m so far.

Mosa Meat plans to use the fresh financing to extend its current pilot production facility, develop an industrial production line, expand its team and introduce its products on the market.

The company also intends to work with regulators to demonstrate the safety of cultured meat, in order to achieve regulatory approval to serve consumers in Europe.

Previous funding
Bell Food Group and M Ventures led a €7.5m series-A funding round for Mosa Meat in July 2018. Glass Wall Syndicate also took part in the round.

The company used the financing to develop an end-to-end process for cultured meat production and prepare for the construction of a pilot production plant.

Subsequently, Mosa Meat raised €2m in additional funding from Lowercarbon Capital and Nutreco in January 2020.

Company
Maastricht-based Mosa Meat specialises in developing and producing cultured meat, which is grown from cells extracted from the muscle of an animal.

The company produced the world's first cultured hamburger and is now developing its commercial products.

The process does not require genetic modification and is aimed at a more sustainable food production that does not slaughter animals and is better for the environment.

People
Mosa Meat – Mark Post (founder); Peter Verstrate (CEO).
Blue Horizon Ventures – Michael Kleindl (managing partner).

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