"Memphis Meats, which produces beef, chicken and duck directly from animal cells without raising and slaughtering livestock or poultry, raised $17 million from investors including Cargill, Gates and billionaire Richard Branson, according to a statement on the San Francisco-based startup’s website. The fundraising round was led by venture-capital firm DFJ, which has previously backed several social-minded retail startups," Shruti Singh reports for Bloomberg. Memphis Meats has raised $22 million so far.
|A petri dish of lab-grown beef from Memphis Meats (Newsweek photo)|
Sonya Roberts, president of growth ventures at Cargill, told Singh in an email, "We believe that consumers will continue to crave meat, and we aim to bring it to the table, as sustainably and cost-effectively as we can. Cultured meats and conventionally produced meats will both play a role in meeting that demand." Branson was bolder in a statement, saying that he thinks the slaughter of animals for meat will be unnecessary in about 30 years.