Matrix Meats Completes Seed Stage Round

COLUMBUS, Ohio, Dec. 21, 2020 /PRNewswire/ -- Matrix Meats, Inc., the leader in the development of industry enabling nanofiber scaffolds for the cultivating of meat products reported the completion of its seed stage round today. This funding, which was oversubscribed, will allow the company to expand its scientific, manufacturing and business development teams, intensify the acquisition of customer/partners and further develop key strategic relationships within the cultivated meat market.

The Seed Stage round was led by Unovis Asset Management and further supported by CPT Capital, Siddhi Capital, Clear Current Capital and a special purpose vehicle (SPV) led by the Ikove Startup Nursery Fund. Matrix Meats was born of a joint venture partnership between the Ikove Startup Nursery and Nanofiber Solutions and has active development relationships with 14 cultivated meat producers from 7 countries.

Matrix Meats' CEO Eric Jenkusky stated, "We believe that our technology is an integral part of allowing the cultivated meat market to mature. Our innovative and programmable electro-spun nano-fiber scaffolds which replicate the extra cellular matrix of living organisms is backed by 50 awarded and pending patents. We will be expanding our efforts to assist our client/partners with accelerating their path to market."

"Our technology allows us to control a number of variables in the manufacturing of the scaffolds such as fiber diameter, alignment, porosity, degradation rates as well as the addition of flavor, vitamins, minerals or growth factors" said Dr. Jed Johnson, Chief Technology Officer, Matrix Meats, Inc.

"For cellular agriculture to succeed at a global level, investments are needed in order to develop and build tools and technologies to scale the various development platforms," said Mark Langley, Managing Partner at Unovis. "We believe Matrix Meats' technology will play a key role in this ecosystem, and we're thrilled to add to our growing toolbox of solutions to one of the biggest challenges we face in improving our food system."

About Matrix Meats, Inc.

Matrix Meats, Inc., based in Columbus, Ohio, is a designer and manufacturer of the foremost nano-fiber scaffolds to enable the production of clean, healthy, and environmentally friendly cultured meat to ethically feed the world. Further information: www.matrixmeats.com

About Unovis Asset Management BV

Unovis Asset Management is a global investment firm and leader in the rapidly developing alternative protein space. The Unovis team has the longest and most comprehensive investment track record in the alternative proteins sector through their first fund, New Crop Capital (NCAP I), which has invested in over 42 startups in the space since its launch in 2015. Unovis recently concluded a first close on its second fund, NCAP II, through which Matrix Meats received its investment. Unovis' mission is to transform the global food system by investing in solutions that facilitate sustained behavioral change and reduce dependence on animal protein products. Unovis supports founders by sharing their culinary knowledge, understanding of consumer habits, experience in food manufacturing, and network of industry experts to build lasting companies. Further information: www.unovis.vc

About Ikove Startup Nursery

Ikove Startup Nursery is a Columbus, Ohio based firm that believes in unlocking the potential of technology commercialization by identifying and vetting disruptive technologies at leading research labs and launching those into successful startups that deserve to be shared with humanity. Further information: www.ikovecapital.com

About Nanofiber Solutions

Nanofiber Solutions™, located in Dublin, Ohio, designs and manufactures novel three-dimensional (3D) nanofiber scaffolds. Our platform technology mimics the extracellular matrix found within the body, providing a realistic environment for all types of cells whether in the body or on a lab bench. Further information: www.nanofibersolutions.com

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SOURCE Matrix Meats