Chinese cell-cultured meat company, JiMi, recently secured a multimillion-dollar angel plus funding round. The funding will be used for personnel recruitment, research and development equipment, R&D expenses, facility expansion, and other operational costs. This is the company's second round of financing completed in less than five months, following a 20 million RMB angel round in November last year.
Founded in August 2021 and headquartered in Hangzhou, JiMi is one of the earliest companies to enter the cell-cultured meat field in China. Its founder, Cao Zhehou, graduated from Imperial College London with a major in aerospace engineering, and the core team has interdisciplinary backgrounds in cell biology, microbiology, and food materials science.
JiMi has chosen cultured beef cells as its food research and development focus. On one hand, beef production has the highest environmental impact in the farming process, and cell-cultured beef can achieve significant environmental reforms. On the other hand, beef has a wide price range, making it possible for cell-cultured meat to approach the cost of traditional meat. Additionally, beef is one of the most structurally complex animals among commonly consumed meats. Once the technology for cell-cultured beef is successfully developed, the company can apply its successful experience to research and development in other meat categories, rapidly expanding the range of end products.
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