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January 25, 2021

Finland’s Paulig Group backs Swiss cell-based meat firm Mirai

Finland-based food-and-beverage company Paulig Group has invested in a cell-based meat firm in Switzerland.

By Leonie Barrie

Finland-based food-and-beverage company Paulig Group has invested in Mirai Foods, a Switzerland-based cell-based meat firm.

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In a round of seed funding, Mirai has raised US$2.4m and said it would use the money to prepare for the commercialisation of its lab-created beef product.

Paulig, the owner of Santa Maria meals and Gold&Green plant-based meat, invested in Mirai through its in-house venture fund. Other backers included technology investment company Team Europe.

Zurich-based Mirai, founded in 2019, suggests it is one of the few companies operating in this field that does not genetically manipulate the animal cells it uses to create meat products, which it predicts will be an important distinction for Europe-based consumers.

Speaking about the funding round, Christoph Mayr, Mirai co-founder and CEO, said: “We are proud to have such a strong and diverse pool of investors aboard for this journey.

"Paulig Group, with their extensive experience in the food industry, is an ideal partner for product development and distribution. Team Europe has a super strong track record in building and supporting global players. Like us, they have a very commercially-driven mindset and want to reach customers as soon as possible."

Marika King, head of Paulig's venture arm PINC, said: "Mirai Foods is a second-generation player in this field and they have been extremely fast. It only took them six months to develop the first prototype and we are very excited to be part of this team's journey. It is a great fit for PINC and Paulig – we want to actively support the development of new sustainable and healthy food."

In total, seven investors participated in the funding round, including "mission-aligned individuals" and bio-tech VC funds.

Mirai said it is aiming aims to produce a variety of product lines but its first product will be beef.

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Free Report
img

Innovation Update Q2 2022: Meat and Meat Alternatives

Meat alternatives continue to push boundaries, as companies explore 3D printed, plant-based, and precision fermentation-based alternatives. As a result, shoppers are more open to experimental formulations that introduce new flavors to meat products, blur traditional food categories, or swap in new ingredient types. It is vital for their development that retailers acknowledge this range of emerging trends during these increasingly uncertain times. Brands must continue to understand how consumer needs and desires change, and offer a range of products that reflect the world around them, therefore developing purchasing and consumption decisions. Exciting non-traditional formulations are hitting the market - following the trajectories and target audiences of these launches will help other brands find their niche. Consult our report on Meat and Meat Alternatives, from the collection of >17,000 reports on GlobalData Explorer, to:  
  • Understand the current market dynamics of the Meat and Meat Alternatives Sector
  • Assess strategies implemented by companies to better penetrate the market
  • Understand the key themes in the market that these companies and their respective products appear to be targeting
  • Marketing / Advertising strategies being used by these players for specific products
  • Other segment-specific analysis (packaging, design, flavors etc.)
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by GlobalData
Enter your details here to receive your free Report.

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