Mosa Meat announced raising $55 million from Blue Horizon Ventures, Bell Food Group, M Ventures

Mosa Meat, a Maastricht, The Netherlands-based food technology company, announced completing a funding round of $55 million.

The round, part of a larger Series B funding round, was led by Luxembourg-based Blue Horizon Ventures, joined by Bell Food Group and M Ventures.

The money will be used to extend the current pilot production facility from Maastricht, develop an industrial-sized production line, expand the team, and introduce cultivated beef to consumers. Regina Hecker, Partner at Blue Horizon Ventures, will also join the board of directors.

Mosa Meat was founded in 2015 by Mark Post and Peter Verstrate, who developed the world's first cultured meat hamburger in 2013, which cost $325,000 to produce and was funded by Google co-founder Sergey Brin. The production process took three laboratory technicians three months to grow the 20,000 individual muscle fibers that made up the burger. Today, the company managed to bring the cost of an individual burger down 88 times and estimates that commercial availability of cultured meat could happen around 2021 in high-end restaurants at first, at around $11 per hamburger.

Prior to this round, Mosa Meat raised €7.5M from M Ventures and Bell Food group in 2018.