A biotechnology startup based in Hong Kong, China, Avant Meats that deals in cultivated meat announced closing its US$ 3.1 million seed funding round on 3rd December 2020.
The round included participation from some of the leading venture capitals of Greater China including AngelHub, ParticleX and China Venture Capital. Some of the western protein alternative investors like Loyal VC, 208 Seed Ventures, Artesian, CPT Capital, and Lever VC also participated. The strategic food investor, PTG food and Markus Haefeli, Regal Springs chairman also marked their presence in the seed round.
The financing will help in the research and development of Avant Meats to continue reducing the production cost and bringing the products of the company in the market by 2021. It is the first biotechnology company that provides cultivated meat in China and the only cultivated fish enterprise in the entire Asia. The proprietary technology of Avant is patent-pending and produces scalable, cost effective and completely contained by process animal free proteins for skin care food and other applications from the fish cells directly.
The co-founder and CEO of Avant Meats, Carrie Chan said, “Avant is happy to be partnering with such strategic investors who can support our company with the customer relationships, ongoing support and manufacturing know-how. We will work on sustainable seafood and accelerate the functional protein industries for increasing adoption of the products we offer into the present global supply chains.”
The biotechnology company innovates the production of high quality, tasty, sustainable and safe fish products. With the use of cell technology, they provide the ability to enjoy sea food without putting our ocean at stake. The cell based meat products of Avanti are of better quality, more efficient, reliable, cleaner and safer for use. The production of their products is free from plastic micro-particles, antibiotics, heavy metal or any other ocean pollutants.
About Avant
Avant Meats is the first cultivated meat provider company in China. Founded in 2018 by Mario Chin and Carrie Chan, the biotechnology company focuses on commercial product innovation, branding, technology and intellectual property portfolio in cell based animal protein food products. Its name was among the APSC 25 list of the most innovative sustainable companies of CleanTech Group 2020. The startup was also featured in Forbes, South China Morning, POST, CCTV and The Telegraph. It aims to be the global tech leader in the domain of functional, sustainable and safe marine based products in a contained environment.
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