Memphis Meats has become the latest alternative protein company to score a coup in Series B funding.
The cell-based meat company has secured $161 million in additional funding, bringing its total to $180 million. The money comes from both new investors and existing ones, including Richard Branson, Bill Gates and Tyson Foods. It will be used to establish a pilot plant and meet other goals.
Although Memphis Meats has not yet commercialized any products, it is regarded as a leader in cell-based meat, and was named as a “disruptor company” in the July 2019 issue of Food Processing. Its goal is to produce all varieties of animal protein, including beef, pork and poultry, both ground and whole-muscle.