Tech for Good
The firm claims it uses 1% of the land and 10% of the water typically required to raise livestock for consumption
San Francisco-based Memphis Meats produces lab-grown meat from animal cells, distinguishing it from vegetarian “meat” companies Impossible Foods and Beyond Meat, which Gates has also backed.
Memphis Meats claims it uses 1% of the land and 10% of the water typically required to raise livestock for consumption.
Joining Gates in the company’s $17 million Series A round were a host of high net worth and venture capital investors, including Richard Branson, agricultural giant Cargill, Kimbal Musk and Fifty Years, which was an earlier investor in the firm.
The round, led by venture capital firm DFJ, brought Memphis Meats’ fundraising total to $22 million; the company has not yet commercialized its products.
Sustainable protein startups have raised hundreds of millions of dollars in private capital.