News and research before you hear about it on CNBC and others. Claim your 1-week free trial StreetInsider Premium here.
LONDON–( BUSINESS WIRE )– Future Planet Capital (“FPC”), an international venture capital and impact investor, is pleased to announce the participation of Edinburgh-based food and technology company Roslin Technologies in its latest £11 million funding round. fueling the company’s next wave of growth in its mission to become a leading supplier of animal cell lines to the emerging cultured meat sector.
Cultured meat is meat grown directly from animal cells without the need to breed animals. Cultured meat promises to improve animal welfare, reduce antibiotic use and reduce the environmental impact of meat production. The cultured meat sector is booming, with billions of dollars invested to date in more than 100 active companies, including global meat producers. For farmed meat to be viable, production costs must be low and the products must provide great consumer satisfaction. High-quality cell lines are required for cultured meat to be safe, affordable and nutritious.
With an initial investment of £10m in 2017, FPC has supported Roslin as it has grown from initial concept through board representation, funding and strategic commercial introductions to the profitable commercial enterprise it is today. The FPC was also honored to facilitate the presentation of what is now King Charles at the leadership event at COP 26. As a long-term partner seeking to cost-effectively solve the world’s biggest challenges, FPC is now pleased to make a significant contribution to this latest round. its Blue Ocean mandate and Challenge Response II (CRII) strategy.
This new funding will allow Roslin Tech to expand its cell line portfolio and invest in further development of protocols to transform its cells into competitive cellular biomass for meat production. It will do this in collaboration with customers, development staff and Roslin Tech’s privileged affiliation, the University of Edinburgh. It will also invest in an insect enterprise, a promising regenerative agriculture technique aimed at breeding better insects for the emerging insect protein sector.
Guy Pengelly, investment director of Future Planet Capital, said this: “Roslin’s ambitions to create disruptive biotechnologies to improve how proteins are made fit well with FPC’s mission to generate revenue while solving the world’s biggest problems. As an early investor, we are delighted to be in a position to continue to support both their momentum and continued growth, and look forward to seeing what else we can achieve together over the long term.”
Roslin Tech CEO Ernst van Orsouw says: “Closing this series is a real milestone for Roslin Tech as we continue to commercialize our new stem cell technologies. The trust of new investors is a testament to the platform and team we have built with the support of Future Planet Capital and our other founding shareholders. We are delighted that Future Planet Capital continues to support us both financially and strategically. Their networks are incredibly valuable in continuing to grow our business and impact society.”
About Future Planet Capital
Future Planet is an influential venture capital firm built to support emerging companies from the world’s top universities and research ecosystems. Headquartered in London, but investing globally, the firm manages more than $350 million for institutional investors, having backed more than 180 companies across geographies and stages. Future Planet Capital aims to cost-effectively solve the world’s biggest challenges in climate change, education, health, sustainable development and security.
The Blue Ocean mandate targets a portfolio of ten to fifteen high-growth and high-impact companies that profitably solve key issues within the Blue Economy. In the context of the Strategy Monaco Blue Initiative (MBI), the Foundation of Monaco collaborates with Prince Albert II and the Government of Monaco.
Led by Future Planet Capital’s experienced investment team, including Partner and Head of Origin Ed Phillips and Portfolio Manager Lyle Pentith, the investment strategy focuses on three areas within the Blue Economy: pollution prevention, protection of marine environments and ecosystems, and sustainable marine productivity.
Response to Challenges II
Future Planet Challenge Response II (CRII) is a thematic basket that invests in the best companies that are directly combating the effects of climate change. It is part of a wider series that prioritizes investment in emerging science and technology companies from the world’s top universities. It is designed to provide rapid investment response to urgent global challenges.
Led by Lyle Pentith, CRII invests in three themes: Energy and Emissions, Sustainable Consumption and Food, Agriculture and the Environment.
About Roslin Technologies Limited
Based outside Edinburgh, Roslin Technologies Limited is an ambitious food and agricultural technology company creating disruptive biotechnologies to improve how proteins are made. The company’s core capabilities lie in the development and commercialization of a complex of unique animal stem cells and resources for the emerging global cultured meat industry. Roslin Technologies was established in 2017 between two investment firms and the University of Edinburgh, with which it has an exclusive relationship with certain rights to commercialize the intellectual property of the university’s school of veterinary medicine and the Roslin Institute, a global leader in animal science.
Jonathan Cook, [email protected]
Kate Pledger, [email protected]
T: 020 7379 5151
Source: Future Planet Capital