Swiss cultivated meat startup Mirai Foods has closed its seed round at $4.5 million. The backers include FRIBA Investment and Skyviews Life Science.
MIRAI FOODS, Switzerland’s first and to date only cultivated meat start-up, today announced that it has raised an additional USD 2.2 million in a second closing of Seed financing. This brings the total funding of the Seed round to USD 4.5 million.
The new and existing backers of the company include German Family Office FRIBA Investment, Swiss Advanced Nutrition & Biotech VC Skyviews Life Science, Zürich based serial entrepreneur and tech investor Ulf Claesson, food company Paulig through its venture arm PINC, and technology investor Team Europe.
“With the additional investment, we are in an excellent position to strengthen the team and speed up our research. This investment is critical for our mission to provide delicious, high quality cultivated meat at a fair price. Our partners not only share our mission but also have great strategic and operational capabilities”, says Christoph Mayr, Co-Founder and CEO of MIRAI.
“Cultivated meat will be a key contributor of a sustainable global food system. At the interface between food science and tissue engineering, MIRAI is one of the leading next generation companies and we are delighted to be part of their journey”, says Stefan Catsicas, Managing Partner at Skyviews Life Science.
The company will use the funds to accelerate product development through expanding the team, improving in-house lab capabilities, and building a pilot production plant. MIRAI will move into their new lab and office space this summer.
MIRAI’s long term goal is to produce natural meat without the need for slaughtering animals. Importantly, no genetic modification is used in the company’s proprietary process. The company is creating its products with EU consumer preferences in mind, with a focus on producing a healthy product. Whilst the company aims to produce a variety of product lines to maximize the impact of cellular agriculture on animal welfare and environmental goals, their first product will be beef, as it has the largest greenhouse gas footprint.
ABOUT MIRAI FOODS
MIRAI was established in the Canton of Zürich, Switzerland, in late 2019. A team of 10 people is on a mission to provide delicious, high quality cultivated meat, at a fair price. Better for the planet and the animals, and healthier for people. The company is developing their first commercial products. MIRAI does not rely on genetic or chemical manipulation of cells.
ABOUT FRIBA Investment
FRIBA Investment is a Single-Family Office operating out of the German cities Bremen and Hamburg. Their industrial heritage dates back more than 140 years and stems from an entrepreneurially driven, operating business. They invest in private equity, real estate and venture capital backed companies and projects.
ABOUT Ulf Claesson
For over 25 years, Ulf Claesson has created and rapidly built sustainable businesses for large corporations, industrial investors and VCs in the Americas, Europe and Asia. He has a corporate executive background with Hewlett-Packard and IBM, managed spin-outs from Intuit and Ericsson, and has been the catalyst for a significant number of M&A transactions.