SuperMeat / PHW Lab-grown "clean" chicken on the rise
The recent seed round was led by US-based venture capital fund New Crop Capital and VC firm Stray Dog Capital with both firms saying they are openly committed to investing in more sustainable food systems.
This new round of funding comes on the heels of a wildly successful Indiegogo campaign which raised $230,000 in pre-orders for SuperMeat’s clean meat products.
SuperMeat’s clean meat is produced by growing cells that have been painlessly extracted from a chicken. The cells are then grown in conditions that allow them to thrive, forming high-quality chicken cuts. According to research conducted by Oxford and Amsterdam Universities, switching to clean meat will allow for a reduction of up to 98% in greenhouse gas emissions, 99% in land exploitation, and up to 96% in water usage.
With the recently secured funding, the Tel-Aviv-based company expects to bring its clean chicken products to market in the very near future, at a price point similar to the conventional chicken products currently available on store shelves.
“We at PHW have time and again left the beaten path in conducting our business. This approach not only facilitates the development of best-in-class animal welfare concepts in our core poultry business but will also lead to the strengthening of our vegan product portfolio, confirming our leading role in the global consumer trend towards a cleaner, more protein-rich diet,” said PHW-Gruppe's CEO Peter Wesjohann.
“We are proud to partner with a top-tier meat producer like PHW; this partnership will enable us to bring to market a revolutionary new generation of tasty, sustainable meat products throughout Europe and beyond.” said Ido Savir, co-founder and CEO of SuperMeat.