New Age Meats raises new funds to expedite cultivated pork development

US-based startup New Age Meats (NAM) has raised additional capital in a seed extension funding round to accelerate the development of cellular agriculture of pork.

The $2m round that was led by TechU Ventures, an early-stage investment company.

Based in Berkeley, California, NAM intends to use the financing to further enhance its Food Science department.

The money will also be used by the company to implement more automation and robotics and continue to reduce the price of its first product, which is a pork sausage.

New Age Meats CEO Brian Spears said: “Food science is incredibly important to our overall mission. We make meat that consumers prefer to conventional meat. That requires us to invest in understanding how we perceive animal protein.

“What is the science behind the experience of smelling, seeing, and eating tasty meat? The mission of our company is to make safer meat without slaughter, but we will never be successful unless our products are delicious.

“With an expanded food science department, we are able to deliver on that promise.”

According to the agreement, TechU managing partner Natanel Barookhian joined the NAM’s board as an observer.

The funding round was also joined by ff Venture Capital, who was the lead investor in the previous funding round, along with other investors, including SOSV, Sand Hill Angels and Siddhi Capital, who made follow-on investments in NAM.

NAM also added Losa Group from Central America, as well as members of San Diego Tech Coast Angels, in the funding round.

Going forward, NAM is also planning to build a pilot facility, enhance its product development activities and launch its first products in the market.