Cubiq Foods completed a $6 million strategic investment round from Cargill.

Cubiq Foods, a Barcelona, Spain-based manufacturer of cell-based fats, raised a $6 million equity funding round.

The funding was raised from investors that includes the US-based meat producer Cargill.

The proceeds will be used to launch its first cultivated fat ingredient onto the market by 2023. Cargill’s investment comes in the form of a strategic partnership that includes a product development plan and a commercial agreement to market and sell Cubiq products.

Cubiq Foods, founded in 2018 by Raquel Revilla, Andrés Montefeltro and Jordi Bladé, developed a platform to cultivate cell-based oils rich in omega-3s as well as patented methods to prepare oil/water emulsions that can be healthy replacements for traditional fat ingredients. The comapny launched a plant-based fat replacer ingredient called Go!Drop, claimed to be a viable alternative to animal fats in a variety of products. It also says it will launch Go!Mega3, a new generation of micro-encapsulated omega 3 for functional food, with the launch of its first cultivated fat-based ingredient due to hit the US market in 2023.

Prior to this round, Cubiq Foods raised $5.4 million in 2020 from Blue Horizon Ventures and Moira Capital Partners