SAN FRANCISCO — The Good Meat division of Eat Just Inc. secured another $97 million in funding after an initial $170 million publicized in May. Good Meat specializes in the production of cellular meat, also known as cultivated meat.
Good Meat also named Dan Glickman, who served as US Secretary of Agriculture from March 1995 to January 2001, and Jim Borel, former executive vice president of DuPont, to its advisory board.
“I'm proud to see our company take the next step toward building large-scale cultivated meat production,” said Josh Tetrick, co-founder and chief executive officer of San Francisco-based Eat Just. “This investment, along with the guidance of Secretary Glickman and Jim Borel, puts us in a position to execute our plans in multiple regions around the world.”
Those investing in Good Meat include UBS O’Connor, a hedge fund manager within UBS Asset Management; Graphene Ventures; K3 Ventures; Resilience Reserve, a venture capital fund founded by entrepreneur Rob Reid and TED curator Chris Anderson; businessman Fernando Chico Pardo and others. Good Meat will use the funds to increase capacity and accelerate research and development for meat made directly from animal cells.
Borel, who is on Eat Just’s board of directors, led the Pioneer, crop protection, and nutrition and health businesses at DuPont.
Glickman, who spent almost two decades as a member of the US House of Representatives, is involved with organizations that fight domestic and global hunger and promote sustainable agricultural research.
“I’m delighted to join Good Meat’s advisory board where I can assist the company in its efforts to provide protein options that can ultimately help feed a growing and hungry population worldwide, safely and sustainably,” Glickman said. “While I will always support family farmers’ work to feed the world in the US and elsewhere, this company’s innovative technologies can augment opportunities over the longer term for consumers to expand their choices and improve their diets.”