The cell-based meat, poultry, and seafood company Memphis Meats has closed a $161 million Series B funding round. Thus far, the company has raised more than $180 million. It expects to use the most recent influx of capital to build a pilot production facility, hire more employees, and launch its products into the market. No launch date has been announced. Memphis Meats is currently working with regulatory agencies to “ensure a timely and safe market entry,” according to a company press release (pdf).
The Series B round was led by SoftBank Group, Norwest, and Temasek. Also, new and existing investors joined the round, including Bill Gates, Cargill, Tyson Foods, Finistere Ventures, Future Ventures, Kimbal Musk, Fifty Years, CPT Capital, KBW Ventures, and Vulcan Capital.
“We are excited to welcome these investors into our ‘big tent,’” said Uma Valeti, cofounder and CEO of Memphis Meats, in the press release. “Cell-based meat is poised to dramatically expand humanity’s capacity to feed a growing global population while preserving our culinary traditions and protecting our planet.”
Press release (pdf)
Gathered Foods, makers of Good Catch plant-based seafood, has announced the appointment of Christine Mei as CEO.
The board of directors of Batory Foods, a national distributor of commodity and specialty food ingredients, has appointed Vince Pinneri to the position of president and member of the executive team, effective Aug. 31, 2020.
Nellson, a North American manufacturer of branded and private label nutritional bar and functional powder solutions, has announced that Martha (Marty) Hudak-Roos has been named chief quality officer.
Bell Flavors & Fragrances has announced the hiring of Megan Paul as a sensory technologist and Prisca Lumbu as a regulatory compliance specialist.
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