Eat Just’s subsidiary Good Meat secures funding to increase capacity

Eat Just’s Good Meat division has secured $170m in new funding to increase real meat capacity without slaughtering animals.

Good Meat is engaged in the production of meat from animal cells instead of slaughtered livestock.

The investment was obtained from funds managed by UBS O’Connor, a hedge fund manager within UBS Asset Management, Graphene Ventures, K3 Ventures and others.

It will also be used to accelerate research and development for real meat without slaughter.

UBS O’Connor chief investment officer Kevin Russell said: “The $2tn global market for meat and poultry is likely to experience significant change and disruption over the next ten years as consumers increasingly recognise the environmental impact of their diet choices and search for healthier and more sustainable products like Good Meat to replace conventional animal proteins in their diets.”

Good Meat will supply its cultured chicken to the JW Marriott Singapore South Beach’s Cantonese restaurant Madame Fan from tomorrow (20 May).

Madame Fan will become the first restaurant in the world to replace conventional meat with cultured meat during set times.

Eat Just co-founder and CEO Josh Tetrick said: “This investment, along with the historic decision by JW Marriott Singapore South Beach, points to what’s ahead: meat without killing animals will replace conventional meat at some point in our lifetimes.

“The faster we make that happen, the healthier our planet will be.”

Earlier this year, Eat Just secured $200m in a new funding round led by the Qatar Investment Authority. The investment was used to increase its production capacity, accelerate research and development programmes and build its brands in key international markets.