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IntegriCulture Inc. Closes Series A Fundraising Round Led by Beyond Next Ventures at JPY800 Million | ||
By: PR Newswire Association LLC. - 28 May 2020 | Back to overview list |
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TOKYO, May 28, 2020 /PRNewswire/ -- IntegriCulture Inc. has completed a Series A fundraising round of JPY800 million (USD7.4 million) backed by Beyond Next Ventures, NH Foods, AgFunder and other investors. The cumulative amount raised stands about JPY1.1 billion (USD10.2 million). (Logo: https://kyodonewsprwire.jp/prwfile/release/M106079/202005270260/_prw_PI2fl_eyTfVibD.png) (Photo: https://kyodonewsprwire.jp/prwfile/release/M106079/202005270260/_prw_PI1fl_Y7C4hq9u.jpg) Series A investors
Use of fund
Latest developments and future milestones
CulNet System units will be provided to clients by rent or on a sales basis to roll out the cellular agriculture infrastructure. CulNet Pipeline: An enterprise solution to commercialize clients' cellular agriculture product CulNet Consortium: The CulNet consortium welcomes domestic and global participants in five fields -- cell source, culture medium, CulNet hardware, product bioreactor, and product processing to build cellular agriculture infrastructure. - Future milestones: Cell-based meat: Launch of cell-based foie gras in 2021, processed meat in 2023 and steak in 2025 Uni-CulNet: CulNet System technology is deployed to clients from May 2020 and will be updated every two to three years for larger scale and lower costs. - Further milestones: Options such as cultured serum supplements, cell-cultured non-food products such as leather and fur, and cell-cultured products for medical applications remain open. Use of funds raised
Comments by Yuki Hanyu, CEO, IntegriCulture Inc. "The funds will be used to build accessible cellular agriculture to make 2021 the Year One of democratized cellular agriculture." Comments by stakeholders Rob Leclerc, Founding Partner, AgFunder J. Skyler Fernandes, General Partner, VU Venture Partners About IntegriCulture Inc. The company's unique patented "CulNet System," a general-purpose large-scale cell culture system, is a biotechnology platform capable of producing animal cell-based food and materials such as meat, leather and other products. By culturing target cells with growth factor source cells in connected bioreactors, the "CulNet System" emulates natural animal body endocrine systems to produce cultured serum. The cultured serum then efficiently and inexpensively cultures target cells without relying on immortalization or externally added foetal bovine serum or growth factors. The system in theory can culture any given animal cells and offers a wide range of applications in food, medical, biochemical and materials products. IntegriCulture will demonstrate businesses based on the CulNet System and offers the technology to global clients as cellular agriculture infrastructure. The company hopes this biotechnology platform will provide means to meet the U.N. SDGs in the food sector and to achieve democratization of cellular agriculture, in which citizens can produce cellular agriculture products of any categories including food, medical, nutraceuticals, cosmetics, chemicals and materials. Then IntegriCulture can build a sustainable civilization full of creative citizens and rich with their cultures on Earth and beyond. Company overview Company name: IntegriCulture Inc. Website: https://integriculture.jp/?locale=en
View original content:http://www.prnewswire.com/news-releases/integriculture-inc-closes-series-a-fundraising-round-led-by-beyond-next-ventures-at-jpy800-million-301066683.html SOURCE IntegriCulture Inc. |
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