IntegriCulture Inc., a Japanese company focused on developing cellular agriculture products, has recently announced that it has closed its Series A funding round and has managed to raise a total of USD7.4 million (JPY800 million). With the addition of this new funding, IntegriCulture’s total amount raised stands somewhere near USD10.2 million (JPY1.1 billion).
According to reliable sources, the series A funding round included investors like NH Foods, Beyond Next Ventures, AgFunder, Real Tech Fund, Caygan Capital’s CEO Mr. Naruhisa Nakagawa, VU Venture Partners, and Hiroshima Venture Capital
The raised funds would be used on improving IntegriCulture’s facilities and equipment, conducting research and developments on cell culture technology, and for covering operational and staffing costs. The funding round comes on heels of IntegriCulture’s latest launch of its “Uni-CulNet (R)” scheme that offers two new packages of cellular agriculture infrastructure enterprise solutions.
The CulNet System would be available on a sales basis or on rent to launch the cellular agriculture infrastructure. While the CulNet Pipeline is an enterprise solution that helps commercialize clients’ cellular agriculture product.
IntegriCulture believes this biotechnology solution would offer means to fulfill the United Nations’ SDGs in the food industry and attain cellular agriculture democratization, in which people could make cellular agriculture goods of any categories such as medical, food, cosmetics, nutraceuticals, materials and chemicals.
Speaking on the development, Yuki Hanyu, CEO, IntegriCulture, said that the capital would be used to develop accessible cellular agriculture, making 2021 the first year of democratized cellular agriculture.
Meanwhile, Rob Leclerc, Founding Partner, AgFunder, commented that the company believes that no one on the planet has invested immense efforts on how to eradicate the issues of cultivated meat than IntegriCulture. It offers the most sophisticated solution to this problem.