Fork and Good has raised $22 million to launch its pilot facility in Jersey City, where it will initially focus on producing cultivated pork with the goal of expanding to other types of meat in the future. The round was led by True Ventures with participation from Leaps by Bayer, Collaborative Fund, Firstminute, Green Monday, Starlight, and others.
“To sustainably feed 10 billion people by 2050, we need to prioritize the development of alternative protein sources that are both nutritious and affordable at scale, using a fraction of the resources required today. We’re excited to see Fork and Good making progress toward this vision,” said Juergen Eckhardt, Head of Leaps by Bayer.
Fork and Good’s initial focus on ground pork aims to help solve supply chain instability in the massive $820 billion global pork market. Its approach is differentiated at the start, as it cultivates muscle cells instead of stem cells, which allows for simpler, cheaper production. Simpler because they only grow meat cells. Cheaper because they don’t need to modify stem cells or other types of cells. Instead of growing cells using scaffolds, the company uses a patented bioprocess and unique bioreactors that increase yield and allow for higher density of production.
“Achieving high yields at an affordable price point is incredibly complex, and Fork and Good is uniquely equipped for the task,” said Adam D’Augelli, True Ventures. “Its Jersey City facility can produce six to ten times more pork per square foot than would be possible using traditional farming methods, with far less water and minimal impact on the surrounding ecosystem.”
“Opening our pilot facility brings us one step closer to fulfilling our mission of producing cultivated pork that is both delicious and accessible,” added Niya Gupta, Fork and Good co-founder and CEO. “Given the hype in the space, we didn’t want to go public until we had something real.”
“From my experience in hydroponics, it became clear that low yield was the reason cultivated meat was so expensive,” said Niya. “We measure yield by feed conversion in livestock, and it was too low in cultivated meat. Our feed conversion is already close to that for pigs and we’re on track to be better.”