SCiFi Foods Raises $29 Million

SCiFi Foods Founders

SCiFi Foods (previously Artemys Foods) has raised $22 million in a new round of funding.

Coldplay, a British band, has previously backed the food-tech startup, which specializes in cultured beef. But Andreessen Horowitz, a venture capital firm, spearheaded the latest Series A financing.

SCiFi Foods has already raised a total of $29 million in investment.

The funds will be utilized to continue working on research and development, marketing, and new hires, according to SCiFi Foods. Myra Pasek has already been named to the board of advisors. (Pasek has already collaborated with Impossible Foods and Tesla, among other innovative startups.)

The Future

SCiFi Foods is a company that specializes in cultured meat. However, it is distinct from the rest of the industry.

SCiFi Foods blends cultured beef with plant-based protein, while many companies focus on cultivating meat from cells in labs and scaling up that technology. Making meat this manner, according to the firm, helps to keep prices down without losing quality or taste.

“We’ve devised the technology to grow real meat without the need for an animal — an astounding feat.. This innovation is the future we once only imagined could be a reality,” said Joshua March, the CEO of SCiFi Foods.

Andreessen Horowitz general partner Vijay Pande agrees with March on the industry’s potential. He believes cultured meat would  “disrupt the trillion-dollar global market for meat products, with huge benefits to the planet.” 

“However, there are major cost hurdles… SCiFi’s technology and approach were the first we felt that truly has the potential to both scale quickly and to drastically reduce cost,” he said. 

The price of cultured meat has not yet reached that of conventional beef. However, in the recent decade, tremendous improvement has been made.

A lab-grown burger cost $330,000 in 2013. However, companies like Future Meat, founded in Israel, have reduced this. According to the firm, the cost of producing a pound of cultured chicken is now roughly $7.70.

Source: “SciFi Foods Raises $29 Million To Make Cultured Meat (With Some Help From Coldplay)” by Plant Based News

vKind is the U.S.’s largest fully-vegan search platform and listing app. Give our search tool a whirl and find any vegan product, service, or experience you desire.


HOW TO GET INVOLVED



CONTESTS & GIVEAWAYS: Be the first to hear about our latest Giveaways, Contests, and Raffles by following us on Instagram where all of our giveaways are featured.

WATCH & LEARN: We have so much exciting content on our YouTube channel with some amazing new shows! Subscribe to our YouTube channel for our latest shows, live events, interviews, videos, news, secret giveaway contests & more!

GET FEATURED: We would love to publish & promote your delicious vegan recipes on our App, websites, and social media channels. Submit your recipes here!

ADD YOUR LISTING: Are you ready to attract customers and clients hyped on your values and what you offer? We’re all about opening up more possibilities to support small to medium-sized vegan businesses, professionals, and companies, like YOU. Add your listing now!

SUBSCRIBE FOR THE LATEST NEWS: Get exclusive access to the latest vegan businesses, events, and plant-based news hot off the press. Subscribe to our Newsletter.

Our mission is to connect vegan and veg-curious consumers with vegan brands, businesses, and professionals—the champions of conscious innovation.