The seed-stage funding round, led by Unovis Asset Management, will help Matrix Meats in further developing its manufacturing and business development
Matrix Meats, a developer of nano-fibre scaffolds for the cultivation of meat products, has secured seed stage funding to expand manufacturing and business development teams and acquire new customers and partners.
The seed stage funding round was led by Unovis Asset Management, with participation from CPT Capital, Siddhi Capital, Clear Current Capital and a special purpose vehicle (SPV) led by the Ikove Startup Nursery Fund.
Matrix Meats was formed as a joint venture partnership between the Ikove Startup Nursery and Nanofiber Solutions. It is actively involved in developing relationships with 14 cultivated meat producers from seven countries.
Nanofiber Solutions is a Dublin, Ohio-based firm that designs and manufactures three-dimensional (3D) nano-fibre scaffolds. The scaffolds support the production of clean, healthy and environmentally-friendly, cultured meat, in an attempt to ethically feed the world, the firm said.
Nanofiber Solutions claims to have developed a platform that mimics the extracellular matrix found within the body, that offers a realistic environment for all types of cells whether in the body or in a laboratory.
Matrix Meats CEO Eric Jenkusky said: “We believe that our technology is an integral part of allowing the cultivated meat market to mature. Our innovative and programmable electro-spun nano-fibre scaffolds which replicate the extracellular 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.”
Ikove Startup Nursery is a Columbus, Ohio-based firm involved in identifying and commercialising disruptive technologies into startups.
Unovis Asset Management managing partner Mark Langley said: “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.
“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.”