Cult Food Science, a Canadian investment platform focused on the cell-cultured meat industry, has made another strategic addition to its portfolio with its recent investment in Mogale Meats, a South African startup developing a vertically integrated food technology platform for cell-cultured meat production. This marks their third investment in a cell-cultured meat startup within 30-days, following Novel Farms and Biftek in August 2021. The investment granted Cult Food Science a seat on the board of directors with the power of right-of-first-refusal on all future offerings.

Mogale Meats is a managing partner of MeatOurFuture, a public-private partnership between Mogale Meat, Cryowild, UKZN, and TUT. Collectively, the team has expertise in animal biobanks, stem cells, food science, and bioprocessing, which are essential fields necessary for the development of alternative proteins. MeatOurFuture is an XPRIZE semifinalist who was awarded up to USD 500,000 for its development efforts in 2021.

Mogale Meats intends to use the funds to expand its key intellectual property asset, its Biobank with over 500 cryo-preserved cell samples from livestock and wild antelope.