The Dutch cultivated meat pioneer, Mosa Meat, has secured €40 ($42.4) million in a new, oversubscribed funding round, taking the company’s total raised to more than $135 million. This marks the largest sum brought in by a cultivated meat company since November 2022.

The funds will be used to further scale up Mosa Meat’s production processes, following the opening of what the company claims is the ‘world’s largest cultivated meat facility’ based in Maastricht, Netherlands. The funds will also be used to support market entry as the company currently pushes for regulatory approval in North America, the UK, Europe and Asia. The cultivated beef burger is anticipated to reach Singapore first, where a regulatory greenlight is just around the corner.

Since the company unveiled its cultivated beef in 2013, it has made major strides in reducing the cost of its burger patties, which initially cost $330,000. In 2020 however, Mosa Meat was able to bring down the price of its own growth medium by 80-fold, and one year later slashed the cost of its fat mediums by 66 times. While exact production costs remain unknown, it is expected that cultivated meat must cost $2.92 per lb to reach price parity with conventional meat.

Mosa Meat homed in on beef over other meats due to its enormous impact on the climate. In a peer-reviewed life-cycle analysis conducted last year, the startup revealed that its cultivated beef can lower the climate impact by 92%, while reducing air pollution by 94%, land use by 95% and water consumption by 78% compared to conventional beef.

See more: Mosa Meat Raises €40M Ahead of Cultivated Meat Launch in Singapore (greenqueen.com.hk)