Matrix Meats, Inc., the leader in the development of industry enabling nanofiber scaffolds for the cultivating of meat products has reported the completion of its seed stage round. This funding, which was oversubscribed, will allow the company to expand its scientific, manufacturing and business development teams, intensify the acquisition of customer/partners and further develop key strategic relationships within the cultivated meat market.
“We believe that our technology is an integral part of allowing the cultivated meat market to mature. Our innovative and programmable electro-spun nano-fiber scaffolds which replicate the extra cellular matrix of living organisms is backed by 50 awarded and pending patents. We will be expanding our efforts to assist our client/partners with accelerating their path to market,” said Eric Jenkusky, Matrix Meats’ Chief Executive Officer.
“Our technology allows us to control a number of variables in the manufacturing of the scaffolds such as fiber diameter, alignment, porosity, degradation rates as well as the addition of flavor, vitamins, minerals or growth factors,” added Dr. Jed Johnson, Chief Technology Officer, Matrix Meats, Inc.
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The seed stage round was led by Unovis Asset Management and further supported by CPT Capital, Siddhi Capital, Clear Current Capital and a special purpose vehicle (SPV) led by the Ikove Startup Nursery Fund. Matrix Meats was born of a joint venture partnership between the Ikove Startup Nursery and Nanofiber Solutions and has active development relationships with 14 cultivated meat producers from seven countries.
“For cellular agriculture to succeed at a global level, investments are needed in order to develop and build tools and technologies to scale the various development platforms,” said Mark Langley, Managing Partner at Unovis. “We believe Matrix Meats’ technology will play a key role in this ecosystem, and we’re thrilled to add to our growing toolbox of solutions to one of the biggest challenges we face in improving our food system.”