CULT Food Science Corp said it has invested in Vevolution, a media production company and investment platform that provides support for innovative food-focused businesses.
Vevolution is focused on accelerating the growth of the cell- and plant-based economies by providing fintech solutions that enable opportunities for investors and start-ups. Its team believes that technology is at the heart of the transition to a world of more sustainable food production, CULT said.
"CULT’s investment in Vevolution represents the expansion of the broader cellular agriculture space as food security and the stability of the global food supply chain is currently at risk. We are excited about Vevolution and its initiatives to bring together all sectors in the cellular agriculture industry,” CULT CEO Lejjy Gafour said in a statement.
READ: CULT Food Science announces investment in food-tech start-up Change Foods
The investment is being strategically used for technology improvements, portfolio expansion and Vevolution’s continued support of the cellular agriculture industry, CULT noted.
“Connecting start-ups, investors and consumers to each other is an integral part of ensuring the success of cellular agriculture. Vevolution and CULT both share the determination to create a better future for the world and the ability to provide food to the growing population in a secure and sustainable fashion,” Gafour added.
Vevolution was founded in 2016 by Damian Clarkson and Judy Nadel, who began the business as an events and media start-up. Now run by Erik Amundson, it has become Europe’s most popular education-focused annual festival that is focused on helping start-up entrepreneurs reach consumers.
Rapidly rising demand for meat and fish around the world poses a problem as current methods of large-scale animal agriculture are linked to public health complications, environmental degradation and animal welfare concerns, CULT said, noting that cell-based food production is one method “that may aid in the evolution of food as we know it, for the better”.
“With its investment in Vevolution, CULT can continue its contribution to solving the global agriculture and food security crisis,” the company said.
The first of its kind in North America, CULT is an innovative investment platform with an exclusive focus on cellular agriculture. It is advancing the development of novel technologies to provide a sustainable, environmental, and ethical solution to the global factory farming crisis.
Contact the author at jon.hopkins@proactiveinvestors.com