Mirai Foods raises €2 million in seed financing from Paulig Group (PINC) and technology investment company Team Europe.

Mirai Foods, a Wädenswil (Zurich), Switzerland-producer of cultivated meat, announced that it closed a first tranche of seed financing totalling €2 million ($2.4M).

The money was raised from strategic investors including the food company from Finland Paulig Group via PINC and technology investment company Team Europe.

Mirai Foods, founded in 2019 bY CEO Christoph Mayr, produces cultivated meat, real meat grown from animal stem cells.

The company is focused not only on bringing cellular agriculture products to the market as quickly and safely as possible, but also on providing better value for their customers through a number of innovative technologies designed to offer superior health benefits in comparison to traditional meat products.

The meat is produced in a clean-room environment by growing animal stem cells into pure meat. This process allows for elimination of 80%-90% of waste in meat production in terms of water, land and greenhouse gas emissions, and also does not need antibiotics. Once the technology scales up, it will also be cheaper than legacy meat.