Chicago-based biotech startup, Clever Carnivore, has successfully closed a $7 million seed funding round to accelerate its mission of producing sustainable, cost-competitive, and cruelty-free cultivated meat. Early investors, led by Lever VC, are poised to witness the transformative impact of Clever Carnivore’s innovative approach to meat production.
Revolutionizing Protein Market
Clever Carnivore, known for its commitment to delivering delicious, sustainable, and affordable cultivated meat, has attracted significant investment from national and international backers. The $7 million seed funding round, spearheaded by Lever VC, signifies a major milestone for the Chicago startup. The funds will be instrumental in revolutionizing the protein market and enhancing the overall consumer experience.
Virginia Rangos, Ph.D., CEO, and co-founder of Clever Carnivore expressed delight at the support received, stating, “This funding is a testament to the hard work and dedication of our entire team and reaffirms the confidence that investors have in our cutting-edge science, technology, and business model.”
Global Investor Backing
The seed round saw substantial support from a diverse group of investors, including McWin Capital Partners (Spain), Thia Ventures (Belgium and Switzerland), Valo Ventures (Palo Alto, California), Newfund Capital (France), and Stray Dog Capital (Midwest-based fund with roots in Kansas). This diverse backing highlights the global interest in Clever Carnivore’s pioneering approach to cultivated meat production.
Nick Cooney, managing partner of Lever VC, praised Clever Carnivore’s breakthrough science and cost advantage, stating, “We haven’t seen anyone come remotely close to Clever Carnivore’s astoundingly low current cost of production, a testament to the company’s phenomenal science.”
Scientific Advantages and Vision
Clever Carnivore’s R&D, led by co-founder Paul Burridge, Ph.D., a professor at Northwestern University’s Feinberg School of Medicine, brings over 20 years of research experience in cell line development. The company’s optimized growth media and unique cell lines contribute to a significant reduction in cell culture media costs, setting it apart from other cultivated meat companies globally.
Bart Van Hooland, managing partner of Thia Ventures, emphasized Clever Carnivore’s potential to bridge the gap in cultivated meat technology, stating, “Clever Carnivore has what it takes to make products that will provide the same taste and nutrition as meat from farmed animals and at a truly competitive price.”
Accelerating Expansion and Product Development
The oversubscribed seed round reflects growing investor confidence in Clever Carnivore’s innovative approach. The funding will enable the company to expedite its expansion plans, including relocating its Lincoln Park operations to a larger nearby facility by year-end. This move will accommodate scaled-up production into 500L bioreactors and the addition of test kitchens.
Clever Carnivore, historically producing cultivated pork sausage, plans to unveil its prototype product, the Clever Bratwurst, in early 2024. As Chicago positions itself for a resurgence in the protein production industry, Clever Carnivore stands at the forefront, reshaping the future of meat production through efficiency and sustainability.