Gelatex raises €1.2M to make the production of cell-cultured meat 90% cheaper
Estonia-based Gelatexrecently raised €1.2 million in a round of funding led by Change Ventures and Crosslight Partners. The company plans to use the capital raised to further develop its technology to make cell cultured meat more affordable.
Gelatex CEO Märt-Erik Martens said, “Today, because of our technology, we are able to produce nanofibrous scaffolds at a price less than 1000 €/kg easily. If we stay true to our ambitions and keep scaling our technology, it will cost only 40 euros in less than 5 years. 20 euros in less than 10 years. This is less than one euro of scaffold per kg of meat. These high-performance materials have never been as accessible as they are today, because of our technology.”
Gelatex claims to have found a way that reduces the cost of production involved in manufacturing cell cultured meat by 90%.
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