Eat Just, the company that gave the world its first cultured meat product for sale in a restaurant (ok a private club in Singapore) has just announced a huge new $200 million round of funding.
Backing for the company which built its business on its plant-based eggs and mayonnaise was led by the Qatar Investment Authority, the sovereign wealth fund of the state of Qatar, with support from Charlesbank Capital Partners and Vulcan Capital, the investment arm of the estate of Microsoft co-founder Paul G. Allen.
In its ten-year existence the company has now raised more than $650 million.
The money will be invested in both continuing to build out its core business – its products are available in a wide number of US supermarkets – as well as developing its cultured GOOD Meat product.
For the latter the company says it will slash production costs and expand its commercial operations while working on other kinds of meats as well.
“We are very excited to work with our investors to build a healthier, safer and more sustainable food system. Their knowledge and experience partnering with companies that are transforming numerous industries were fundamental in our decision to partner with them,” said Josh Tetrick, co-founder and CEO of Eat Just, in a statement.