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CellAgri Weekly Newsletter
Issue #230 |
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Hi Daniel,
As we approach the year's halfway point, we decided to break down the numbers behind the cellular agriculture investment landscape to date for the year.
Compared to the strong first half of 2022, with many notable investments, the investment landscape slowed tremendously in the first half of 2023.
As of the end of May 2023, the cellular agriculture food field has raised approximately $113 million across 18 deals to date. In comparison, during the first half of 2022, the field raised $885 million across 39 deals.
While there is still one month to go in the first half of the year, it highlights that the investment landscape has slowed down for the industry. Interestingly, despite a decrease in overall investments, there is an increase in total investments in supply chain companies for the first half of the year.
With $54 million in 8 deals in 2023 to date compared to approximately $47 million in 9 investments in the first half of 2022, the rising investments in technology-enabling startups signify the need to develop and build the supply chain and supporting infrastructure around the future of food field.
Moving forward, companies will need to continue achieving significant milestones to raise capital to scale production. As the investor panel highlighted during an earlier Cellular Agriculture Webinar Event, there will be more scrutiny over a startup’s technology, milestones, and valuations.
In March, cell-based meat company New Age Eats shut down in the US after failing to raise more funding to complete its pilot facility. Similarly, Steakholder Foods announced restructuring the business in April and shut down its cell-based fat subsidiary, Peace of Meat.
Check out the CellAgri website! From Events and the Job Board to our latest investment reports and 5-Day Email Course, we’ve added more ways to engage with the entire cellular agriculture community.
- Ahmed K
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Featured Events
5th Industrializing Cultivated Meat & Seafood Summit 2023
The 5th Industrializing Cultivated Meat & Seafood Summit returns this July 25-28 to the new location of Boston, capturing the truly international industry of cell-based agriculture to advance bioprocessing to commercially scale cultivated meat from bench to table.
Join 80+ thought leaders to tackle the biggest bottlenecks preventing cultivated meat and seafood products from being affordable and accessible, globally. With industry experts from BlueNalu, Ivy Farm Technologies, Vow, and the USDA sharing their insights on economic scale-up processes, harmonizing regulatory expectations, and leveraging hybridization to improve taste and texture to turbocharge consumer acceptance of cell-based food.
View the full event guide for more information about the integral meeting. |
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Upcoming Events 2023
Future Food-Tech’s Alternative Proteins Summit returns to New York, bringing together the world’s leading players from the alt-protein industry to delve into the challenges facing the sector and identify strategies for success in today’s market.
Taking place on June 27-28 at the Marriott Marquis Times Square, the summit will welcome 800+ leaders in cell-based proteins, precision fermentation and next-generation plant-based ingredients to address challenges and opportunities across the supply chain and accelerate high profile, catalytic networking.
Looking forward to being on a panel with Aleph Farms, Onego Bio, BioBetter, the Economic Development Board of Singapore, and Merrick & Company to explore how the cellular agriculture field can accelerate its pathway to market.
As a marketing partner, use the code CA10 for 10% off your ticket. |
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| Upstream Foods Develops Cultivated Salmon Fat to Improve Taste of Alt Seafood
Vegconomist
As a key component of meat, fat tissue is an essential ingredient to give both cell- and plant-based meat the same taste and flavor as conventional meat, including seafood. Upstream Foods shared that the Dutch startup is developing cell-based salmon fat to help give plant-based seafood the same flavor and mouthfeel as traditional fish. The startup is based in Wageningen University and Research campus and plans to launch commercially within five years, likely in the US or Singapore. Upstream Foods intends to raise a €3 million seed funding round to help scale its production process. |
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| Gelatex Awarded 760,000 Euro Grant to Develop Edible Microcarriers
Protein Report
In order to scale and come to market, one area that the cellular agriculture field needs to address is scaffolding production for structured products. In May, Gelatex announced that the Estonian startup received a grant of €760,000 to develop edible microcarriers and microcarrier production technologies from the Estonian Business and Innovation Agency. Gelatex claims its nanofibrous scaffolds and microcarriers are highly porous, edible, and improve cell migration and adhesion properties. The startup shared that its solutions have been tested with various cell lines, including pork, poultry, and beef. |
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| Gelatex Awarded 760,000 Euro Grant to Develop Edible Microcarriers
Protein Report
In order to scale and come to market, one area that the cellular agriculture field needs to address is scaffolding production for structured products. In May, Gelatex announced that the Estonian startup received a grant of €760,000 to develop edible microcarriers and microcarrier production technologies from the Estonian Business and Innovation Agency. Gelatex claims its nanofibrous scaffolds and microcarriers are highly porous, edible, and improve cell migration and adhesion properties. The startup shared that its solutions have been tested with various cell lines, including pork, poultry, and beef. |
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| Gelatex Awarded 760,000 Euro Grant to Develop Edible Microcarriers
Protein Report
In order to scale and come to market, one area that the cellular agriculture field needs to address is scaffolding production for structured products. In May, Gelatex announced that the Estonian startup received a grant of €760,000 to develop edible microcarriers and microcarrier production technologies from the Estonian Business and Innovation Agency. Gelatex claims its nanofibrous scaffolds and microcarriers are highly porous, edible, and improve cell migration and adhesion properties. The startup shared that its solutions have been tested with various cell lines, including pork, poultry, and beef. |
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