Swiss company Bell Food Group to invest in Mosa Meat

Swiss meat processor Bell Food Group is set to invest €2m in Dutch startup Mosa Meat, which is primarily engaged in the production of cultured beef.

Mosa Meat produces beef directly from animal cells using its proprietary technology and has reportedly raised the funding required to bring its cultured meat products to market by 2021.

Other participants in the financing round include the corporate venture capital arm of science and technology company Merck, M Ventures, as well as the Glass Wall Syndicate.

Mosa Meat is expected to use the Series A funding to develop an end-to-end process that will facilitate the production of cultured meat at a reduced cost.

The financing will also allow the company to prepare for the construction of a pilot production plant to introduce a premium product in 2021.

The Bell Food Group plans to support Mosa Meat during the development of its new production methods, which are intended to offer an alternative to consumers who are re-evaluating their consumption of meat for ethical reasons.

M Ventures principal Alexander Hoffmann said: “Replacing traditional meat production with cultured meat would have a huge impact on the reduction of greenhouse gas emissions.

“It would free up a large amount of resources that are now used for meat production worldwide, and will completely disrupt an old-established and currently unsustainable industry.”

The Bell Food Group’s range of products includes meat, poultry, charcuterie and seafood, along with fresh and non-perishable convenience products, which are mainly distributed to the retail, catering and the food processing industries.

The company currently employs more than 12,000 personnel and generates revenues of approximately CHF4bn ($3.9bn) per year.