Cultivated meat set for mainstream following Uncommon’s $30m Series A boost

Uncommon, the cultivated meat start-up founded as Higher Steaks, has raised $30m in Series A funding, led by Balderton Capital and Lowercarbon.

The investment, which includes participation from Red Alpine, East Alpha and previous investors Max and Sam Altman, Miray Zaki and Sebastiano Castiglioni, will be used to further develop Uncommon’s groundbreaking approach, scale up production and begin the regulatory approvals process.

Founded by Benjamina Bollag and Dr Ruth Faram as Higher Steaks in 2017, Uncommon leverages RNA, the molecule that contains the chemical instructions that direct cells’ natural machinery into making a protein, to create cultivated bacon and pork belly from animal cells. The cells are derived from a skin sample or other biopsy. Uncommon’s approach eliminates animal suffering, and the use of land, feed, and drug-based interventions including antibiotics.

The goal is to quickly reach price parity with conventional meat, scale faster and create safer, healthier products without the use of gene editing, opening up a much wider global market than competitors.

The funding will be used to continue to bring the cost of goods down, apply for regulatory approval, and scale up production at its pilot manufacturing facility at Cambridge Technopark, while doubling the team over the next 18 months.

Benjamina Bollag, founder and CEO of Uncommon, said: “From a young age, I have always been aware of how diets and food choices can have a disproportionate impact on our health.

“This led me to found Uncommon, a biocreation company that uses the power of cells to tackle the most pressing challenges to our health, starting with cultivated pork.

“As the only cultivated meat leveraging RNA technologies, we believe we have a competitive advantage that could help us become the largest protein company in the world.

“I’m delighted with the progress we’ve made so far as a company and look forward to working closely with our new and existing investors to continue to build on this progress and make a difference to global health.”

Cultivated meat is set to have an impact and wrestle share from the meat industry. It is a rapidly growing sector, expected to reach $427bn in value by 2040, with start-ups creating a diverse menu of products from burgers and chicken nuggets to sausages and steaks.

Daniel Waterhouse, partner at Balderton Capital, said: “The cultivated meat industry faces significant challenges, from the cost of materials to regulation and scaling.

“We’re convinced that Uncommon has the formula to become a global leader that will transform how we eat and enjoy meat.”

Dr Clea Kolster, partner at investor Lowercarbon, pointed to the avoidance of animal disease as a key factor.

“The meat industry is one of the biggest sources of carbon emissions globally and industrial production is also tied to infectious diseases like swine fever and bird flu,” Dr Kolster said. “Uncommon is on a mission to build a healthier future by leveraging RNA technologies to create cultivated pork belly and bacon, which could produce up to 52 per cent fewer carbon emissions per pound than traditional pork.

“We need more founders with the vision and drive of Benjamina if we are to transform the way we eat and reduce the environmental impact of the meat industry for good.”