Healthcare Apr 25, 2022 09:35 AM (GMT+8) · EqualOcean
Recently, upside foods (formerly known as Memphis meats, hereinafter referred to as upside), headquartered in Berkeley, California, USA, completed the largest financing of the cell culture meat industry, up to US $400 million. Since its inception in 2015, the company has raised a total of $600 million. This round of financing is led by Temasek and Abu Dhabi Growth Fund (ADG), a global investment company headquartered in Singapore. Other investors include food giants Tyson, Cargill, individual investor Bill Gates, John dur, king of venture capital in the United States, jinbar musk, etc. Upside will use this fund to expand its team, conduct consumer education and accelerate commercialization, build a commercial scale production base for a variety of cell culture meat, plan to produce tens of millions of pounds of cell culture meat every year, and develop a supply chain for 100% animal free cell culture medium and necessary materials. Initially, it will focus on chicken. In January this year, upside acquired culture decadence, a lobster breeding manufacturer; In November last year, the engineering, production and Innovation Center epic was opened in the San Francisco Bay area of California. With an annual capacity of 50000 pounds, it is already one of the largest cell culture meat factories in the world.