New Age Meats Raises $2M Seed Extension to Continue Developi
BERKELEY, Calif., July 30, 2020 /PRNewswire/ -- New Age Meats ("NAM"), a cultivated meat startup in Berkeley, CA specializing in the cellular agriculture of pork, announced today that it has raised a $2M Seed extension round led by TechU Ventures, an early stage investment firm specializing in deep tech. Natanel Barookhian, the Managing Partner of TechU, has joined the Company's board as an observer. The additional funding will allow NAM to further expand its Food Science department, implement more automation and robotics, and continue dropping the cost of its first product, a pork sausage.
"Food science is incredibly important to our overall mission," said Brian Spears, CEO. "We make meat that consumers prefer to conventional meat. That requires us to invest in understanding how we perceive animal protein. What is the science behind the experience of smelling, seeing, and eating tasty meat? The mission of our company is to make safer meat without slaughter, but we will never be successful unless our products are delicious. With an expanded food science department we are able to deliver on that promise."
ff Venture Capital, the lead investor from New Age Meats' previous round, participated in the extension, along with follow-on investments from SOSV, Sand Hill Angels, and Siddhi Capital. The firm also welcomed the Losa Group out of Central America and members of San Diego Tech Coast Angels onto the cap table.
Looking beyond this round, New Age Meats is working toward building its pilot facility, scaling product development and production, and getting its first products to market.
Derin Alemli, CFA
Director of Operations & Finance
email: [email protected]
About New Age Meats
New Age Meats was founded in 2018 and headquartered in Berkeley, California. Specializing in pork, NAM is working to bring a cultivated pork sausage to market soon. They make meat for meat eaters in an age where the definition of meat is changing. Embedded in their ethos is the desire to positively impact the world, with the mission of building a more sustainable supply of protein for the planet.
About TechU Ventures
TechU Ventures is an early stage investment firm that supports entrepreneurs building platform technologies that harness complex science and engineering breakthroughs for enduring global impact.
View original content to download multimedia:http://www.prnewswire.com/news-releases/new-age-meats-raises-2m-seed-extension-to-continue-developing-cultivated-pork-301101701.html
SOURCE New Age Meats