Eat Just: $170 million for Good Meat expansion
The fake meat company is preparing to enter the US market
Eat Just has raised $ 170 million in funding for the expansion of its Good Meat cultured meat division, and is preparing for entry into the US market. With the transaction, Good Meat becomes a subsidiary of Eat Just, which plans to use its latest funding to increase production capacity and accelerate research and development on the "lab-grown chicken" product. Since Good Meat secured what is considered the world's first regulatory approval for cultured meat, its product has been enjoyed by customers at Singapore's 1880 restaurant and in homes through a partnership with the Foodpanda home delivery platform.
The funding also comes at the same time that JW Marriott Singapore South Beach's renowned Cantonese Madame Fan restaurant announced that it will become the first restaurant in the world to replace conventional meat with meat grown during set hours. Once a week during dinner deliveries, Good Meat will replace conventional chicken with its plant-based alternative in dishes like Asian-inspired chicken salad, steamed chicken dumplings, and stir-fried chicken.
"This deal is changing the future in terms of humanity's power", said Nabil Borhanu, founder and managing partner of Graphene Ventures. He added: "Eat Just has led and dominated the plant-based egg category with its Just Egg products, and with all the efforts made, we are confident that Good Meat will lead the cultured meat category starting from the 193 chicken market Billions of dollars. For us, it's not just about meat, but about fueling the growth of planet-friendly food alternatives that can feed a rapidly changing world",
EFA News - European Food Agency