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20th Jan 2023
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Multus Biotechnology Raises $9.5m Series A

Exciting news for alternative protein: GROW Land x Launch™ alumnus, Multus Biotechnology, raises $9.5m in Series A funding to build a growth media production plant.

The funding includes an equity-free grant of $2.5 million from Innovate UK through the EIC Accelerator. The round was led by Mandi Ventures, with key investors including SOSV, Big Idea Ventures, SynBioVen, and Asahi Kasei Corp.

Scaling up sustainable meat

With a focus on growth media development, Multus Biotechnology is unlocking affordable and profitable scale up for leading cultivated meat companies, and lowering entry barriers for new innovators to drive this industry forward. In other words, they take care of growth media, so cultivated meat companies can focus on bringing tasty, sustainable meat to everyone.

With new funding in hand, Multus Biotechnology plans to build a growth media production plant in the UK that it hopes will accelerate the cultivated meat industry towards price parity with affordable food-safe growth media at commercial scale. Multus Biotechnology will also accelerate product development in advanced growth media formulations and food-grade raw materials. This week’s funding follows a $2.2 million raise in 2021 and the launch of their first product, Proliferum® M, an all-in-one solution to eliminate the use of foetal bovine serum in cell culture.

Changing meat production to combat the climate crisis

While participating in GROW’s 2022 Global Incubator Programme (powered by Land x Launch™ in partnership with Innovate UK), Cai Linton, CEO of Multus Biotechnology, said:

“Cultivated meat is the food of the future and promises to give us the same meat we know today without the need to slaughter billions of animals every year and using just a fraction of the resources. Changing how meat is produced could truly be one of the most powerful ways to mitigate the ongoing climate crisis. One of the key challenges preventing cultivated meat products from reaching our supermarkets is the expensive nutrients required to grow cells. Multus creates the key ingredients for cultivated meat companies to scale production and bring their products to market affordably and profitably.”

Read more on The Spoon

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