Eat Just Raises $97 Million More to Fund Cultured Meat Production
Company will use the investment to make the massive bioreactors it needs to scale up output.
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Eat Just Inc., the San Francisco-based maker of plant-based egg products, raised $97 million in new funding to advance the company’s work on cultured meat.
The investment, which was part of a round announced in May that raised $170 million, came from new groups including Resilience Reserve, a venture capital fund, and existing backers like hedge fund UBS O’Connor and Graphene Ventures. This brings the round to $267 million, making it the largest ever for cultivated meat, which backers say will help to meet the world’s rising demand for animal products in a more humane and environmentally friendly way.