New Age Meats: Raises $25M in Series A Funding

New Age Meats Raises $25M in Series A Funding

• New Age Meats, a Berkeley, Calif.-based cultured meat company, raised $25m in Series A funding
• The round was led by Hanwha Solutions of South Korea, with participation from SOSV’s IndieBio, TechU Ventures, ff VC and Siddhi Capital
• The company will use the funds to double the size of its workforce, build a 20,000-square-foot pilot manufacturing facility in Alameda, Calif.
• Founded in 2018 by CEO Brian Spears, New AgeMeats makes meat without animal slaughter using animal cells and plant ingredients
• Its production process is designed to scale up quickly to meet demand in rapidly growing markets, such as Asia
• Prior to this Series A round, the company raised $7 million of funding, including investment from RXBAR Founder, Peter Rahal