Start-up S’pore Shiok Meats acquires clean red meat firm Gaia Foods – Health Guild News

0
249


In accordance with Technology in Asia, Meat Shiok has acquired a stake of more than 90% Gaia Foods for an undisclosed sum.

Gaia Foods is the first clean red meat company in Southeast Asia to produce meat with stem cell technology.

It essentially develops cell-based cuts of pork, beef, and beef; and it does so by growing animal cells on scaffolds or thin plant surfaces, so that it mimics the texture of cuts of meat rather than minced meat.

It also controls all materials needed to produce the meat to ensure it does not contain antibiotics or other contaminants.

The aim of the company is to produce meat in a cleaner, more ecological and respectful of animals that people can consume without any guilt.

The deal will help Shiok Meats add a wide variety of red meat products to the existing menu of cell-based crustacean products such as shrimp, lobster, crab, prawns and crayfish.



So far about $ 30 million has been raised

Never Visualization / Image Credit: Shiok Meats

This July, Shiok Meats announced yes almost finished raising an undisclosed bridge round of funding from Woowa Brothers, a Seoul-based food distribution company. The last round brought to date the total funding of Shiok Meats to about US $ 30 million.

Shiok Meats was founded in 2018 by Sandhya Sriram and Ka Yi Ling and is distinguished from other cell-based meat producing companies by its proprietary technology that isolates stem cells from shrimp, lobsters and crabs, they are the first company that can do this for cell-based production.

Once harvested, stem cells, prawns, lobsters and crab meat are grown in nutrient-rich conditions, similar to a greenhouse.

After four to six weeks, cell-based seafood is exactly the same as its conventional counterpart, but is more sustainable, clean, and nutritious. Shiok’s patent-pending technology can make crustaceans grow four times faster than conventional production.

Singapore has recently emerged as the Asian food center, largely thanks to strong government support for industry.

According to the Report on the Asian Alternative Protein Industry, several leading startups in the field of food technology (foodtech) are based in Singapore. This includes companies from growing sectors such as cell farming and food optimization for whole plants.

The emerging food technology ecosystem has been strongly driven by government support and funding. Singapore aims to produce almost a third of the food it needs by 2030 and the Singapore Food Agency (SFA) has set a target, dubbed 30 by 30 – to produce 30 per cent of Singapore ‘s nutritional needs by 2030.

“The alternative protein space is evolving rapidly and we are very happy to collaborate and integrate with Gaia Foods,” dit Sandhya Sriram, CEO and co-founder of Shiok Meats.

“With seafood and red meat in our bidding offer and the recent fundraising from strategic investors, we are ready for marketing.”

Featured Image Credit: Shiok Meats / Gaia Foods / Bloomberg





Source link