Upside Foods Raises $400 Million at over $1 Billion Valuation

Upside Foods is a leading producer of cultivated meat that is produced directly from animal cells without the need to slaughter animals themselves. Moreover, this way of producing requires less energy, water, and land than the usual approach to production. It allows consumers to get humane, clean, and free of harmful chemicals meat.

The Series C funding round was led by Temasek and Abu Dhabi Growth Fund. Baillie Gifford, Givaudan, John Doerr, SALT fund, and Synthesis Capital also joined the round. Among existing investors were Bill Gates, Cargill, Cercano Management, CPT Capital, Dentsu Ventures, EDBI, Kimbal and Christiana Musk, Norwest Venture Partners, SoftBank Vision Fund 2, SOSV’s Indie Bio, and Tyson Foods.

Upside Foods, San Francisco, the USA, was founded by Nicholas Genovese, Uma Valeti, and William Clem in 2015. With funding raised, the company is going to develop the supply chain for cell feed media, build out a commercial-scale facility, as well as to dispel myths, and educate consumers on the cultivated meat value. In November, Upside Foods opened a factory with a capacity to produce 400 000 pounds of cultivated meat per year. “Our team at Upside continues to overcome seemingly insurmountable challenges in our mission to make our favorite food a force for good. Working in partnership with our world-class coalition of investors, we’re excited to bring delicious, sustainable, and humane meat to the consumers around the world,” Dr. Uma Valeti, CEO.

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