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CellMEAT, a South Korean lab-grown shrimp producer, bags $8.1M Series A funding
Summary
CellMEAT is a South Korean startup that has developed cell-based shrimp. The company has secured $8.1 million in Series A funding to help with research and development, pilot production, and expanding its offerings to other seafood items. CellMEAT intends to enter Singapore and the US in the next few years. The company's goal is to bring the cost of shrimp meat down to $20 per kilogram.
Q&As
What is the name of the company that has developed a cell-based shrimp?
The company that has developed a cell-based shrimp is called CellMEAT.
How much money has the company raised in total?
The company has raised a total of $14.1 million.
When does the company hope to commercialize its product?
The company hopes to commercialize its product as early as 2023.
What is the cost of the shrimp meat per kilogram?
The cost of the shrimp meat per kilogram is approximately $20.
What other companies are developing similar products?
Other companies that are developing similar products include BlueNalu, Finless Foods, and Avant Meats.
AI Comments
👍 I'm so excited for this! Finally a sustainable and humane alternative to seafood.
👎 This is just gross. I would never eat lab-grown shrimp.
AI Discussion
Me: It's about a company called CellMEAT that is developing cell-based shrimp.
Friend: That's interesting. I didn't know that was a thing.
Me: Yeah, it's a pretty new technology. They're hoping to commercialize it as early as 2023.
Friend: That's pretty soon. Do you think it will be successful?
Me: I think it has a lot of potential. There is a lot of interest in alternative meats right now, and this could be a more environmentally friendly option.
Friend: Yeah, that makes sense. I would be interested in trying it.
Action items
- Follow the development of CellMEAT and other companies working on alternative seafood products.
- Keep an eye on the progress of CellMEAT's plans to commercialize its cultivated shrimp.
- Stay up to date on the latest news about alternative protein development.
Technical terms
- Cell-based shrimp
- shrimp that has been grown in a lab from cells, as opposed to being caught in the wild
- Series A funding
- the first round of funding for a startup company, typically from venture capitalists
- Lab-grown shrimp
- shrimp that has been grown in a lab from cells, as opposed to being caught in the wild
- Alternative seafood
- seafood that has been grown in a lab from cells, as opposed to being caught in the wild
- Fetal bovine serum (FBS)
- a blood product that is often used in cell culture, but which can be replaced with an animal-free alternative
- Cell culture
- the process of growing cells in a lab
- Animal-free cell culture
- a type of cell culture that does not use any animal products
- B2B
- business-to-business, meaning businesses that sell to other businesses
- B2C
- business-to-consumer, meaning businesses that sell directly to consumers