World’s first Artificial Meat created by using cell-culture technology. Memphis Meats is a food technology company headquartered in San Francisco, the leading clean meat company has already produced beef, chicken and duck directly from animal cells without animals.
The company was founded by three scientists: Uma Valeti (CEO), Nicholas Genovese, and Will Clem. Valeti is a cardiologist and medical professor at the University of Minnesota.
The company plans to produce various meat products using biotechnology to induce stem cells to differentiate into muscle tissue and to manufacture the meat products in bioreactors. In February 2016 Memphis Meats published a video of a cultured meatball, and in March 2017 the company published a video of cultured chicken and duck dishes.
In August 2017 Memphis Meats announced that it had raised a $17 million Series A funding round. The round was led by DFJ, and also included investment from Bill Gates, Richard Branson, Suzy and Jack Welch, Cargill, Kimbal Musk and Atomico.
The production cost of the cultured beef was $18,000 per pound ($40,000/kg), and the production cost of the cultured poultry was $9,000 per pound ($20,000/kg).
As of June 2017 the company had reduced the cost of production to below $2,400 per pound ($5,280/kg). The company said it anticipated cost reductions and commercial release of its products in the coming years.
Following the announcement of its funding round, Memphis Meats launched a recruiting campaign to grow its team.
Dr. Uma Valeti, co-founder and chief executive officer of Memphis Meats says,
“We’re going to bring meat to the plate in a more sustainable, affordable and delicious way.”
“The world loves to eat meat, and it is core to many of our cultures and traditions. Meat demand is growing rapidly around the world. We want the world to keep eating what it loves.
However, the way conventional meat is produced today creates challenges for the environment, animal welfare and human health.
These are problems that everyone wants to solve, and we can solve them by bringing this incredible group of partners under one tent. This group will help us accelerate our progress significantly.”