6668b6d85ad3d07f31194dd9 Scifi3

Cultivated Beef Developer SCiFi Foods Shuts Down

June 11, 2024
The California cultured meat startup, which focused on meat-plant hybrids, apparently is selling off assets.

SCiFi Foods, which aggressively promised to debut cultured meats faster than even competitors with USDA and FDA approvals, is out of business -- after raising $40 million from investors.

Cofounder and CEO Joshua March told AgFunderNews, “Given challenges in the fundraising market, we’ve appointed an advisory firm to run a sale process,” apparently referring to a liquidation of its assets.

Reports said the San Leandro, Calif.-based firm – which started life as Artemys Foods in 2019 -- had raised about $40 million from a number of venture capital funds and even British rock bank Coldplay. The company rebranded as SCiFi Foods in 2022.

SCiFi did have two differentiators. Rather than simply culturing meat from animal cells in a bioreactor, they also employed CRISPR (clustered regularly interspaced short palindromic repeats), a DNA-modifying technology that hastened the process. And their recent promotional remarks promised hybrid burgers made of perhaps 10% cultured meat, with the rest being plant-based protein.

About the Author

Dave Fusaro | Editor in Chief

Dave Fusaro has served as editor in chief of Food Processing magazine since 2003. Dave has 30 years experience in food & beverage industry journalism and has won several national ASBPE writing awards for his Food Processing stories. Dave has been interviewed on CNN, quoted in national newspapers and he authored a 200-page market research report on the milk industry. Formerly an award-winning newspaper reporter who specialized in business writing, he holds a BA in journalism from Marquette University. Prior to joining Food Processing, Dave was Editor-In-Chief of Dairy Foods and was Managing Editor of Prepared Foods.

Sponsored Recommendations

Learn About: Micro Motion™ 4700 Config I/O Coriolis Transmitter

An Advanced Transmitter that Expands Connectivity

Micro Motion™ G-Series Coriolis Flow and Density Meter

Micro Motion G-Series: market-leading compact design featuring advanced process diagnostic capability.

Embracing Sustainability using Advanced Measurement Instrumentation

A practical guide to greeningyour brewing operationsusing advanced measurementinstrumentation.

Get Hands-On Training in Emerson's Interactive Plant Environment

Enhance the training experience and increase retention by training hands-on in Emerson's Interactive Plant Environment. Build skills here so you have them where and when it matters...