CellX, a Shanghai-based cultivated meat start-up, has raised $10.6 million in a Series A funding round. The latest funding round will be used to expand and optimise the start-up’s platform technologies to create a safe, consistent and low-cost cultivated meat production system, reports the South China Morning Post.
“Cellular agriculture uses next-generation technologies to create new proteins and new materials in a more sustainable way. Compared to traditional animal agriculture, cellular agriculture uses significantly fewer resources and emits less carbon,” said Ziliang Yang, CellX’s co-founder and CEO.
CellX’s new funding round coincides with growing support in Beijing for the development of synthetic protein as a food source to reduce the pressures on environmental resources brought on by traditional livestock breeding, according to the 14th five-year development plan for the bio-economy released by the National Development and Reform Commission (NDRC) on May 10.