Good morning Community!
Good news thread for us to kick start our week.
Bright Biotech raises 3.2 million for plant based recombinant proteins. The company is based in Manchester and this was seed funding stage. The investments came from a consortium led by pan-European early stage VC investor "Food Labs". Bright Biotech uses a proprietary light-driven, protein expression technology to make extraordinarily high yields of proteins in plants. The end result is sustainable, free of animal pathogens and bacterial endotoxins, protein that is highly scalable. So, this technology uses no stem sells from animals at all.
Cultivated meat has emerged as a potential solution to the increasing demand for animal proteins and climate change. Cultivated meat matches the tastes and textures of conventionally farmed meats that are associated with environmental consequences. The industrialisation of cultivated meat is expected to reverse the hard done to animals, people and the environment while allowing meat eaters to continue to have enjoyable meat experiences.
According to this repot from Visual Capitalist, 34% of UK consumers are willing to try cultured meat (58% in Germany and 44% in France). Global cultured meat market 2030 projection is 25 USD billion. Celebrity investors into the space include: Bill Gates, Richard Branson, Leonardo DiCaprio and Ashton Kutcher. Major investments into the cultured meat market have been made by Cargill, Mitsubishi, JBS, Tyson.
Do we have members that have experience in investing in similar technologies? How long does it usually take to scale up an innovation similar to Bright Biotech, start manufacturing and start seeing these products on the shelves in the supermarkets?
P.S. For those interested in the sector, here's more information
2022 Cultivated Meat State of the Industry Report from Good Food Institute
UK's first cultivate meat approval submitted by Aleph Farms
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Aya Pariy
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