A San Francisco based company named Memphis Meats has been developing cultured meat grown in Lab to create slaughter free meats and has raised $17M with the help from Bill Gates and others.
In 2015 cardiologist Uma Valeti, stem cell researcher Nicholas Genovese, and tissue engineer Will Clem founded the company. The company harvests meat cells from animals and grows those in a lab. Hence produce is called “cultured meat” and does not require the slaughter of animals. Memphis Meats launched a video in February 2016 showcasing its cultured beef meatball. In March 2017, it showcased chicken tenders and duck a l’orange.
Bill Gates, Richard Branson, Twitch co-founder Kyle Vogt, Kimbal Musk and Suzy and Jack Welch are some notable investors. They are backing the initiative of cultured meat. While, the largest privately held corporation of the USA, agricultural company Cargill Inc supported that.
The way of conventional meat production today creates challenges for the environment, animal welfare, and human health. With global consumers spending nearly $1 trillion/year on meat, and demand for meat expected to double in the coming decades. So, startups like Memphis Meat can really help us to check the production of Greenhouse gases in the environment due to the slaughter of animals.
Hence, the production cost of lab-grown cultured meat(Beef) was $18,000 per pound and that of chicken meat is $9,000. While still expensive according to CEO of Memphis Meat Uma Valeti, the investment“will accelerate our work on moving products to lower costs, developing a production environment and getting a much better handle on the multiple species we’re working on”.
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