Re:meat, an innovative foodtech company, has successfully raised approximately €1 million (11 million SEK) in a recent funding round, surpassing its initial target of 6 million SEK. The investment will drive the establishment of Sweden’s first “meat brewery” in Lund, a facility dedicated to cultivating meat cells in a controlled environment.
The funding round, reported by both Impact Loop and Rapidus, attracted significant investor interest, including 8+ Ventures, Kristofer Forss (founder of Bastard Burgers), Jon Persson and Erik Rosengren (co-founders of Söderberg & Partners), Judith Wolst (founder of SusTechable), and Skåne Ventures, along with several angel investors.
“Readiness in times of crisis starts with resilient food systems. By investing in our technology today, we are building a future where nations are better prepared, more self-sufficient, and ready to face whatever geopolitical or climate related challenges that lie ahead. We’ve assembled the right mix of expertise, but more importantly, the determination to fundamentally transform the way we produce meat.“
says Jacob Schaldemose Peterson, CEO at Re:meat
Investor Interest and FOMO Effect
Gittan Schiöld, CCO and Co-founder of Re:meat, highlighted the “fear of missing out” (FOMO) effect that helped secure the funding:
“It was wonderful. We managed to create a FOMO effect. It took time, but in the end, we succeeded.”
said Gittan to Rapidus
Re:meat aims to revolutionize meat production by growing meat cells, significantly reducing the environmental impact of meat consumption and enhancing national food security.
Cultivated meat offers numerous climate benefits compared to traditional animal farming. Schiöld noted that while climate issues may sometimes be overshadowed by global events, food production remains a critical aspect of preparedness.
The capital will be used to build a pilot facility in Lund, where Re:meat will demonstrate the efficiency of its cultivation process to potential customers. The company compares its approach to brewing, aiming to showcase a streamlined and effective method for producing meat.
Future Plans and Growth
With the new funding, Re:meat can accelerate its development and extend its runway. However, the company anticipates needing additional funding within a year, potentially around 20 million SEK.
Re:meat’s innovative approach represents a significant step towards a more sustainable and resilient food system, addressing both climate and food security challenges. The company’s focus on cost-effective production aims to make cultivated meat accessible to all consumers and creating real change in the meat industry.
