Netherlands-based Mosa Meat, a cell-cultured meat startup, has raised USD 10 million in a third Series B funding round led by Blue Horizon Ventures and existing and new investors, including Nutreco and Jitse Groen. The new funds increase the total funds secured in the Series B round to USD 85 million.

Mosa Meat intends to utilize the fresh funding to scale up its production, expand its pilot plant facility, expand its labor force, develop an industrial-sized production line, and commercialize its products to consumers.

Founded in 2015, Mosa Meat produces meat by growing myosatellite cells (muscle stem cells) extracted from an animal in a bioreactor fed with a nutrient-dense medium. Mosa Meat introduced the world's first cultivated beef hamburger in 2013. The company claims to have successfully replaced the fetal bovine serum from their growth medium, allowing it to reduce the cost medium by 88 times to EUR 9 (USD 10) from the initial EUR 250,000 (approximately USD 297,000) per burger cost in 2013.