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Lab-grown meat start-up Eat Just, backed by Hong Kong billionaire Li Ka-shing, looks to scale up and expand after Singapore approval
- The American company recently raised US$267 million and received approval to sell more of its cell-grown chicken products
- The company will also need to spread across the Asia-Pacific region, particularly China, to continue ramping up manufacturing capacity, according to CEO
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Eat Just, an American start-up backed by Li Ka-shing’s Horizons Ventures, aims to scale up and expand after receiving approval to sell more of its cell-grown chicken products in Singapore.
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While the San Francisco-based company originally produced vegan egg substitutes, its Good Meat division sells chicken breast. Instead of coming from a live animal, the meat is cultivated in a bioreactor from a small cluster of cells.
In December, Singaporean authorities approved the sale of Good Meat’s latest chicken formats, including breasts and strips. The product was unveiled at the end of last year and will arrive in many of Singapore’s hawker food centres in 2022.
“It’s a continued validation that this is not a technology that’s more akin to science fiction, but a technology that’s about feeding people now,” said CEO and founder Josh Tetrick.
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Plant-based ‘chicken’ satay created in Singapore lab
Plant-based ‘chicken’ satay created in Singapore lab
Good Meat raised US$267 million in 2021. The size of the cultured meat market could reach as high as US$25 billion globally by 2030, according to McKinsey & Company.
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Other prominent players include Japan’s Integriculture, Hong Kong’s Avant Meats and new competitors such as Israel’s Future Meat, which raised a record US$347 million in its latest investment round.
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