Multus Biotechnology announce a USD$9.5m Series A investment round to build a world first growth media facility
- Multus is the UK based startup creating key ingredients for the affordable scaleup of cellular agriculture/order_t/'>agriculture.
- We are excited to announce the close of a USD$9.5m Series A investment round. The funding includes an equity free grant of USD$2.5M from Innovate UK through Europe’s most competitive startup grant, the EIC Accelerator.
- The round was led by Mandi Ventures, with key investors including SOSV, Big Idea Ventures, SynBioVen and Asahi Kasei Corp.
- The funding allows Multus to build a world-first production plant in the UK to accelerate the cultivated meat industry towards price parity with affordable food-safe growth media at commercial scale.
Who are Multus Biotechnology and how do we enable the affordable scale-up of cultivated meat?
Multus is at the forefront of the sustainable protein transition, pioneering the design and production of novel growth media formulations and ingredients for the affordable scale up of cellular agriculture.
We combine data science and automation to screen its library of non-conventional growth media ingredients to unlock affordable, high-performance growth media formulations that scale.
Our work enables a genuinely sustainable alternative to intensive animal farming which continues to erode biodiversity, monopolise arable land, and emit high levels of greenhouse gases.
Multus growth media formulations and ingredients are the building blocks of cellular agriculture and enable the affordable at-scale production of real animal products, including meat, dairy, leather, and more, using cells instead of animals.
Who are the investors and what were the details of the funding round?
The round is led by Mandi Ventures, an early-stage venture capital fund focused on accelerating the adoption of disruptive technologies in the food and agriculture industries.
Other investors include SOSV, Big Idea Ventures and SynBioVen, alongside Asahi Kasei, a global company that contributes to a sustainable society by tackling evolving challenges in materials, homes and healthcare.
An equity-free grant of £2.15M (USD$2.5M) from Innovate UK through the EIC Accelerator also makes up the Series A round.
With a success rate of less than 4%, the EIC Accelerator is the most competitive start-up grant in Europe, a huge win for scaling cultivated meat.
Julio Benetti, Co-founder and Managing Partner at Mandi Ventures commented:
“Multus’ technology has the potential to revolutionise the cultivated meat industry by significantly reducing production costs and accelerating the commercial scale-up of the sector, benefiting cultivated meat producers, consumers and the environment.”
What’s next for Multus and cultivated meat?
The funding will allow Multus to build a world-first production plant in the UK to accelerate the cultivated meat industry towards price parity with affordable food-safe growth media at commercial scale.
It will also accelerate product development in advanced growth media formulations and food-grade raw materials.
It follows a USD$2.2M raise in 2021 and the launch of our first product Proliferum® M, an all-in-one solution to eliminate the use of foetal bovine serum (FBS) in cell culture. Proliferum® M is demonstrated to grow muscle, fat, and connective tissue cells from mammals, birds, and seafood.
We recently achieved ISO22000 certification for food-safe manufacturing of growth media formulations and ingredients, a significant milestone on the company's journey to producing food-safe growth media.
Commenting on the funding round, Multus CEO Cai Linton said,
"We are excited to use this funding to drive innovation in novel ingredient discovery, intelligent formulation design and food safe growth media production for the affordable scale-up of the cellular agriculture industry."
"We are confident that our unique approach to growth media will play a key role in making cultivated meat a sustainable and
Other news from the department business & finance
Could a retrofit of existing infrastructure help solve plant-based scalability?
Opportunities in existing infrastructure for plant-based meat companies
Winners of the “Renewable Material of the Year 2023” Innovation Award
Biodegradable elastic materials based on food waste, carbon-light yeast oil, and a plastic-free natural polymer
Exciting foodtech business opportunities in Skåne, Sweden
“Food is heavily put under the microscope when we’re talking about climate change and other aspects of sustainability,”
Eating as an art of living instead of XL portions
Experts advise enjoyment in company, reflection and slow eating - enormous need for research on portion sizes
Enzymit Partners with Aleph Farms to Reduce Production Costs and Shorten Time-to-Market for Cultivated Meat
Enzymit Employs AI and Deep Learning to Develop Novel Insulin Substituents as Processing Aids for Cost-Efficient Cultivated Meat Production
Coca-Cola Europacific Partners makes further investment in recycling technology to accelerate the elimination of virgin plastic in its bottles
GEA invests EUR 50 million in German centrifuge production sites
Focus on sustainable production, including digitalized and automated processes
Barry Callebaut sharpens sustainability targets
Fresh ambition for the Group’s Forever Chocolate plan
Most read news
Extracting the best flavor from coffee
Understanding the origin of uneven extraction in brewing espresso can improve the beverage and enable substantial financial savings by using coffee more efficiently and sustainably
Paper-based packaging has a good eco-image
Study by the University of Bonn examines how the type of packaging influences purchase intention
What makes “junk food” junk?
Study examines how three decades of U.S. policies define junk food for taxation and other regulations
More news from our other portals
Newly developed hydrogel nanocomposite for the mass production of hydrogen
“This study makes great progress in the field of photocatalysis and showcases the potential of green hydrogen production at sea with world-class performance"
Microbe of the Year 2023: Bacillus subtilis – for health and technology
Already, Bacillus subtilis is indispensable in many industries, and many more innovations are expected
Electronic noses sniff out volatile organic compounds
Improving the fluid flow inside noselike chambers can enhance detection of harmful chemicals
Artificial photosynthesis for environmentally friendly food production
Researchers produce important amino acid from greenhouse gas CO₂
Artificial intelligence identifies anti-aging drug candidates targeting ‘zombie’ cells
New platform has potential to fuel advances in senolytic anti-aging compounds and longevity research
X-ray imaging captures fleeting defects in sodium-ion batteries
A Cornell-led collaboration succeeded in identifying an elusive mechanism that can trigger degradation in sodium-ion batteries
New concept for lithium-air batteries
Research project in Germany aims to improve the stability of this novel battery type
Researchers develop new method to synthesise cannabis plant compound
cis-tetrahydrocannabinoids can now be produced synthetically, enabling pharmaceutical applications
Researchers harvest abundant clean energy from thin air, 24/7
“The air contains an enormous amount of electricity”
Verder Group acquires ERWEKA
With this acquisition, Verder Scientific expands its portfolio to include dissolution and tablet testing equipment for the pharmaceutical and life science sectors
New catalyst transforms carbon dioxide into sustainable byproduct
Researchers create acetic acid out of carbon monoxide derived from captured carbon
Launching Revvity: A Scientific Solutions Company Powering Innovation from Discovery to Cure
The Company was previously affiliated with PerkinElmer, Inc.
Pall and Cytiva join forces
Cytiva and Pall Life Sciences complete integration to create a global innovation and solutions leader in biotechnology
The World’s Smallest Impedance Spectroscopy System in the Form of a Pill Finds Weak Spots in Machines and People
Small as a candy: Waterproof IoT sensor reliably measures the properties of liquids even in hard-to-reach places
New theory explains superconductivity in spun graphene trilayers
The study, carried out by CSIC scientists, lays the foundations for understanding the mechanisms of certain unconventional superconducting materials
Insilico Medicine-led study combines quantum computing and generative AI for drug discovery
“Quantum computing is recognized as the next technology breakthrough which will make a great impact, and the pharmaceutical industry is believed to be among the first wave of industries benefiting from the advancement”
New Start-up develops aquafarms for macroalgae
AWI and Carbonwave spin-off: Large algae simultaneously bind CO₂ and create raw materials for the chemical industry
Ultra-long protein fibrils give clues on dementia risk
"AFM technology has the potential to complement conventional biomarker tests and improve the early detection of Alzheimer's"
An electric vehicle battery for all seasons
New electrolyte for lithium-ion batteries performs well in frigid regions and seasons
3D-printed pills with desired drug release – a step upwards in medication
Funny looking pills are not a design gimmick, they can release medication in a desired time regime!
AI supports analysis of metallic materials
"With our specially developed algorithm, we are three times faster"
Scientists streamline a widely used chemical reaction, creating new manufacturing opportunities
This research should have a far-reaching impact: it allows scientists to forge valuable carbon-carbon bonds used in the pharmaceutical and agrochemical industries, and beyond
How to repel mosquitoes with the right soap scent
Virginia Tech researchers conduct proof-of-concept study on mosquito’s scent preferences
Something is happening in the food & beverage industry ...
This is what true pioneering spirit looks like: Plenty of innovative start-ups are bringing fresh ideas, lifeblood and entrepreneurial spirit to change tomorrow's world for the better. Immerse yourself in the world of these young companies and take the opportunity to get in touch with the founders.