In a statement, Sirius said it joined in the seed funding round led by US-based venture capital firm New Crop Capital and venture capital fund Stray Dog Capital. The round also saw SuperMeat striking partnership with PHW, one of Europe’s top poultry producers.
The seed capital will be used to help SuperMeat achieve breakthroughs in the science of growing meat in a lab and develop a scalable process to produce this alternative meat source, Sirius said.
SuperMeat is developing cultured or lab-made meat which is produced in a much more efficient and sustainable process requiring significantly fewer resources than conventional meat production.
It develops clean meat produced using growing cells painlessly extracted from a chicken. Grown in lab-controlled conditions, these cells form quality chicken without slaughtering animals. As such, this removes the threats of being exposed to animal waste and food-borne meat.
“We are in the early innings of the global shift towards sustainable food systems,” said SuperMeat CEO and co-founder Ido Savir.
Demand for SuperMeat’s clean meat is already on the rise even as the company is three years away from distributing and selling its lab-made meat. Last year, SuperMeat raised $230,000 in pre-orders in an Indiegogo campaign.
Sirius’ founder and managing director Eugene Wong said, the global food revolution is imminent and that food-tech holds the answer to the future of food.
“Our plan is to invest in a high-growth startup that will shift the food industry and reinvent dietary habits in the near future,” Wong said.
Sirius’ placement in SuperMeat is its latest among a series of food-tech companies that the venture capital firm has invested in.
Prior to SuperMeat, Sirius invested in Hargol, an Israeli start-up that pioneers in sustainable grasshopper farming to yield consumable protein.
Other investments in the food-tech domain include Chapul, a US company that promotes edible insects as a healthy and sustainable source of protein, as well as AgFunder, a US-based platform for agriculture and food startups that seek investment capital.