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Innocent Meat successfully closes €3 million financing round

March 26, 2024

Germany's Innocent Meat has announced it has raised €3 million in financing. In a challenging market environment, investors included the anchor investor Venture Capital Fonds MV, which invested €500,000, and a new private investor, which invested €2.5 million. The fresh capital will enable the company to further develop the existing biocomponents, scale up the pilot plant and initiate the necessary certification processes.

Innocent Meat is striving for a complete solution for cultured meat production with an automated, end-to-end system. The young technology company from Rostock is one of the first to make it possible for any company to produce cultured meat itself. The aim of the cultured meat industry is to achieve price parity compared to conventional meat products.

Founded in 2020, the start-up has built up a highly qualified team of nine employees at its Rostock site, has several patents pending and has left the laboratory scale with its perfusion bioprocess.

In addition, two funding projects with a total volume of more than €1 million have already been acquired. Together with the University of Rostock, a production platform for recombinant proteins (FABA.BIO) is being set up and the first products are available.

“We are very pleased to have such an innovative and strong partner like the university of Rostock to make more sophisticated cultured meat products," commented Laura Gertenbach, CEO (pictured alongside Patrick Inomoto, Chief Technology Officer). "Since we moved into the department Life, Light & Matter, we have made an excellent experience how academies and start-ups work hand in hand to create a sustainable value.

“I am extremely proud of the team that Patrick and I have been able to build up over the past few years and with whose help we are continuing to drive forward our version of sustainable meat production," Gertenbach added. “Cultured meat still has some challenges to overcome, but I am confident that with our solution we can make a significant contribution to solving the pressing issue of providing a growing world population with a safe, affordable and sustainable supply of meat."

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