Venture Capital: Andreessen Horowitz Is Lead Investor In SCiFi Foods Series A

https://dailyalts.com/wp-content/uploads/2022/06/SciFi-Foods-Shot.jpg

SCiFi Foods is targeting to be the first company to bring cultivated beef to the US market.

SCiFi Foods, a food tech startup that is creating beef using both plant-based and real cultivated beef cells, has raised a $22 million Series A round led by Andreessen Horowitz (a16z). The company was founded in 2019 by Joshua March, CEO, and Kasia Gora, CTO. (Yahoo News)

Vijay Pande, general partner at Andreessen, said in a blog post that the cattle industry is responsible for a majority of the deforestation of the Amazon as well as a top emitter of methane, one of the most potent greenhouse gases.

Meat cultivated from cells inside bioreactors has become technologically feasible, but still suffers from a prohibitive cost of production. However, SCiFi is addressing that problem, according to Pande, by using its cultivated beef cells to make products that combine plant-based and cultivated meat, which could solve two major challenges in these respective spaces: “a lack of optimal taste in plant-based products and the difficulty of creating 3D muscle and tissue structures from 100% cultivated meat cells at scale.”

March is focused on first creating a burger that tastes amazing (“its a good product already”). However, the USFDA would have to clear the process, while the US Department of Agriculture would need to approve the facility and the final labelling of the product. All that could take a couple of years.

Nevertheless, it’s Pande’s view that “SCiFi Foods is well positioned to become one of the defining brands of this generation while reducing the impact of conventional meat production on our planet.”

Related Story: Upside Foods Scores $400M For Producing Cultivated Meat At Scale

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2023/12/AMD_headquarters_santa_clara.624da707519a6.jpg
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…

https://dailyalts.com/wp-content/uploads/2023/12/RHCEU-Inline.jpg
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…

https://dailyalts.com/wp-content/uploads/2023/12/Samsung_UK_Samsung_Pay_Lifestyle_0552-revised-Pictogram-23.11.30-1024x744-1.png
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…

https://dailyalts.com/wp-content/uploads/2023/12/Revaia-founders.jpg
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…