CellMEAT

Based in South Korea, CellMEAT is a cell-cultured meat startup that has developed its own cell-culture medium technology that does not use fetal bovine serum (FBS). The company intends to create cell-cultured seafood like shrimp, caviar, and more, and launch across South Korea in the future. The company also plans to expand to Singapore and commercialize its cultivated meat products targeting B2B and B2C customers and thereafter enter the US following expansion into the Asian market.

CellMEAT plans to introduce its flagship Dokdo shrimp (an expensive delicacy that is bigger than regular shrimp) in Singapore, Korea, and the US by 2024. In May 2023, the company debuted a prototype of cultivated caviar based on the Osetra variety. Available in different shapes and sizes, this product is claimed to provide better texture, and a “less fishy” flavor compared to traditional caviar

Funding and financials

In its latest funding round in June 2023 , CellMEAT raised KRW 17.4 billion (~USD 13 million) in a Series A funding round co-led by BNK Venture Investment, Ryukyung PSG Asset Management, and Strong Ventures, with participation from other investors. The funding was to be used to bolster its leadership position in the cell-culture food market and focus on technology development.