US cultivated fat company Mission Barns has raised US$24M in funding to scale up production and build a pilot plant in the San Francisco Bay area, the company announced on 7 April.
The Silicon Valley-based firm says it has developed a process of cultivating meat from animal cells with a focus on producing animal fat.
Mission Barns claims that the fat it cultivates delivers the mouthfeel and flavour of meat, and can be added to meat alternative products made with plant proteins.
The company has developed a number of products incorporating Mission Fat, both on its own and through collaborations with meat companies and plant protein partners. Applications include: bacon, breakfast patties, burgers, nuggets, dumplings, hot dogs, poultry sausages, meatballs and more.
Mission Barns’ Series A round attracted global backing from a range of investors, including Lever VC, Gullspang Re:Food, Humboldt Fun, Green Monday Ventures and Enfini Ventures. A number of Mission Barns’ seed investors had also increased their stake in the company.
“I’ve been sampling plant-based meats for 20 years from a huge variety of brands globally, and have never tasted anything as meat-like as products containing Mission Fat,” said Lever VC managing partner Nick Cooney.