SINGAPORE — Cell-based seafood producer Avant Meats has secured $10.8 million in a Collection A funding spherical led by S2G Ventures, based on regulatory filings.
S2G Ventures, which usually invests in corporations specializing within the meals, agriculture, ocean and clear vitality sectors, has invested $5 million within the Singapore and Hong Kong-based firm, its filings with Singapore’s Accounting and Company Regulatory Authority (ACRA) present.
ACRA filings solely mirror the fairness funding acquired thus far within the spherical. The general funding spherical could possibly be bigger and probably produce other elements comparable to debt.
Different buyers within the spherical embody repeat investor ParticleX, in addition to Lever VC, Artesian, Thia Ventures, CPT Capital and the Good Protein Fund, which is managed by Good Startup.
The final fundraising by Avant Meats was in December 2020, when it closed $3.1 million in seed funding to assist its analysis and improvement efforts and to launch its cultured fish meat merchandise available in the market.
DealStreetAsia has reached out to Avant Meats for remark.
Based in 2018, the corporate is China’s first meat cultivation biotechnology agency and the one firm in Asia to develop cultivated meat for meals, skincare and skincare merchandise utilizing patent-pending know-how to supply zero-residue protein immediately from fish cells via what it says is an environment friendly, scalable, secure and dependable organic course of.
Going ahead, Avant is trying to produce traceable and sustainably cultivated proteins in a fully-contained setting for consumption, skincare and useful purposes.
In keeping with this, the corporate final 12 months joined palms with the Bioprocessing Expertise Institute below Singapore’s Company for Science, Expertise and Analysis (A*STAR) to scale up its proprietary course of for producing cost-effective food-grade cultivated fish.
As a part of this, the businesses will collectively develop and optimize options for the scalable manufacturing of cultivated fish cells. This consists of the identification of key elements affecting the expansion of cultivated fish cells, and the method design to enhance scale-up and manufacturing economics.
For the unique story from DealStreetAsia, click on right here.
DealStreetAsia is a monetary information web site based mostly in Singapore that focuses on personal fairness, enterprise capital and company funding exercise in Asia, particularly Southeast Asia, India and larger China. Nikkei owns a majority stake within the firm.