We're celebrating the news that our Zero Carbon Fund (Fund 1) portfolio company, Multus Media have closed their Series A round. The round was led by specialist early-stage food and ag VC fund, Mandi Ventures and included UK biotech investors SynBioVen, US investor SOSV (Indie Bio), Big Idea Ventures and Japanese corporate Asahi Kasei. Multus also managed to secure £2.15m ($2.5m) from Innovate UK in the super competitive EIC Accelerator.
The funding will allow Multus to build a world-first production plant to scale their animal-free growth media in the UK, accelerating the cultivated meat industry towards price parity. It will also enable Multus to continue their product development in advanced growth media formulations and food-grade raw materials.
Commenting on the 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 affordable choice for all."
Find out more from the press release on Multus's shiny new website.