Memphis Meat, the clean meat company, has added the support of top venture investors after closing a £17 million Series A fundraising round.
Cargill was among the major food players that investing in the round, alongside renowned entrepreneurs Richard Branson and Bill Gates.
Gates recently invested in plant-based meat manufacturer, Impossible Foods.
The round was led by venture capital firm DFJ – who has previously backed disruptive businesses such as Tesla, SpaceX and Skype.
To date, the company has now raised $22 million.
This follows an earlier milestone in which the company successfully produced the world’s first clean chicken and duck.
Memphis Meats will use the funds to further develop its products and upscale its clean meat production. It will also reduce production costs to levels comparable to conventional meat.
The company use animal cells to create meat in a laboratory environment, bypassing the need to rear and slaughter livestock.