Polsky Accelerator and Chain Reaction Innovations alum Meati Foods is well on its way to changing the way the world thinks about fungus – specifically, a protein-rich mushroom root called mycelium. After recently announcing the new lease of a nearly 80,000 square foot production facility, Meati is gearing up for their first launch of a mycelium-based “beef” jerky in select stores around the country while planning to introduce their whole-cut “chicken” and “steak” via partner restaurants. Though after the announcement of a new $50M Series B raise, it is more than evident that all of these big moves are just the beginning for Meati. In addition to the favorable protein ratio of mycelium and Meati’s ability to easily alter its taste profile, the foodtech startup projects that its new facility will be able to produce the equivalent of 4,500 cows every 24 hours at scale. And with the help of this newest round of funding, Meati is aiming for a full commercial launch to hit store shelves in the summer of 2022. Read more via Forbes.
This announcement first appeared in the Polsky Weekly 10, a weekly notification of the most share-worthy, news-worthy, and innovative happenings around the Polsky Center at the University of Chicago.