Uncommon, a British-based producer, announced on Friday that it had secured $30 million in funding from a group of investors, including Sam Altman, the CEO of OpenAI.
The cultivated meat startup formerly known as Higher Steaks has been at the forefront of the cultured meat movement, aiming to make lab-grown meat a reality worldwide since 2017. The company's primary focus lies within the $250 billion global pork market, with a mission to develop bacon and pork belly products.
Uncommon creates its cultivated meat products by isolating somatic cells from an animal and converts them into induced pluripotent stem cells (iPSCs) through a process known as reprogramming, in which the genetic code remains untouched.
Lab-grown meat companies aim to address the environmental impact of traditional livestock farming and contribute to the fight against climate change. By producing meat in a laboratory, these companies reduce the resources and emissions associated with traditional meat production methods.
One of the long-standing challenges in bringing cultivated meat to market has been scalability. To address this issue, Uncommon has developed a groundbreaking technique that utilizes a polymeric molecule called RNA, specifically mRNA, to instruct cells to produce proteins internally. This method enables the company to create real meat without resorting to genetic engineering, which aligns with increasing global concerns over genetically modified food and facilitates regulatory compliance.
Uncommon's Series A funding was led by Balderton Capital and Lowercarbon Capital.
The company intends to utilize the funding to expand production, initiate regulatory approval processes in Europe and Singapore, and closely monitor opportunities in the US market.
Contact Angela at angela@proactiveinvestors.com
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