Apr 25, 2022
Upside Foods raises $400M series C

TechCrunch’s story “Upside Foods bites into $400M round to serve cultivated meat later this year” reported the blockbuster series C round, led by Temasek and the Abu Dhabi Growth Fund. The round in Upside Foods (IBSF02 2015) is reported to be the largest investment in the alternative protein industry to date and, according to Crunchbase, increases the startup’s value to more than $1 billion. Once Upside gains FDA approval, the company aims to start production of cultivated meat and poultry at its 53,000-square-foot facility in Emeryville, CA. 

“Our goal is to introduce consumers to cultivated meat to dispel any confusion with meat alternatives,” Upside Founder and CEO Uma Valeti told techCrunch, “This is going to open up the entire cultivated meat space, and as the pioneer, we are writing the playbook and sharing it with people. In the next two decades, so many products will be brought to market, so our goal is to engage with consumers and B2B businesses. The consumer has to fall in love with this.”