Memphis Meats

Memphis Meats
Privately held company
Industry Food technology
Founders Uma Valeti, Nicholas Genovese, Will Clem
Headquarters San Francisco, CA, U.S.
Website memphismeats.com

Memphis Meats is a food technology company headquartered in San Francisco aiming to grow sustainable cultured meat.[1] The company was founded by three scientists: Uma Valeti (CEO), Nicholas Genovese (CSO), and Will Clem.[2] Valeti is a cardiologist and medical professor at the University of Minnesota.[1]

The company plans to produce various meat products using biotechnology to induce stem cells to differentiate into muscle tissue and to manufacture the meat products in bioreactors.[1] In February 2016 Memphis Meats published a video of a cultured meatball, and in March 2017 the company published a video of cultured chicken and duck dishes.[3][4][5][6]

In August 2017 Memphis Meats announced that it had raised a $17 million Series A funding round. The round was led by DFJ, and also included investment from Bill Gates, Richard Branson, Suzy and Jack Welch, Cargill, Kimbal Musk and Atomico.[7]

The production cost of the cultured beef was $18,000 per pound ($40,000/kg), and the production cost of the cultured poultry was $9,000 per pound ($20,000/kg).[4][8][9] As of June 2017 the company had reduced the cost of production to below $2,400 per pound ($5,280/kg).[10] The company said it anticipated cost reductions and commercial release of its products by 2021.[4][6][5]

Following the announcement of its funding round, Memphis Meats launched a recruiting campaign to grow its team.[11]

References

  1. 1 2 3 Bunge, Jacob (2 February 2016). "Sizzling Steaks May Soon Be Lab-Grown". The Wall Street Journal.
  2. ↑ "The Memphis Meats Team". Memphis Meats. Retrieved 4 February 2016.
  3. ↑ Gelman, Susan (February 29, 2016). "Meat Without Misery". The Common Reader. Online.
  4. 1 2 3 Bunge, Jacob (15 March 2017). "Startup Serves Up Chicken Produced From Cells in Lab". The Wall Street Journal.
  5. 1 2 Farber, Madeline (15 March 2017). "A San Francisco Startup Is Serving Chicken That Was Made in a Lab". Fortune.
  6. 1 2 Kooser, Amanda (16 March 2017). "This lab-grown chicken and duck meat looks surprisingly delicious". CNET.
  7. ↑ Sawers, Paul (23 August 2017). "Lab-grown food startup Memphis Meats raises $17 million from DFJ, Cargill, Bill Gates, others". VentureBeat.
  8. ↑ "'World's first' lab-grown meatball revealed". Fox News. 3 February 2016.
  9. ↑ Addady, Michal (2 February 2016). "You Could Be Eating Lab-Grown Meat in Just Five Years". Fortune.
  10. ↑ Bunge, Jacob (2017-08-23). "Cargill Invests in Startup That Grows 'Clean Meat' From Cells". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-11-02.
  11. ↑ "Careers". Memphis Meats. Retrieved 2017-11-02.

Memphis Meats – company website

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