Good Meat, a newly established cultured meat subsidiary of food technology developer Eat Just, raised $170m in funding from investors including UBS O’Connor, a hedge fund management arm of UBS Asset Management, yesterday.
Graphene Ventures, K3 Ventures and unnamed backers also participated in the round.
Good Meat has developed lab-grown poultry meat and has unveiled a partnership with the JW Marriott Singapore South Beach hotel to deliver its product once per week from tomorrow.
Good Meat had operated as an internal division within Eat Just before collecting the external financing.
The company’s cultured chicken nuggets became the first in the world to be approved for human consumption in December last year, and they have been available in Singapore’s 1880 restaurant and through food delivery platform Foodpanda.
The money will enable Good Meat to accelerate its research and development activities and to increase production capacity.
