ORF Genetics has raised €5 million in a recent financing round to scale up its production of specialized proteins for the cultivated meat industry. The investment, which includes contributions from both current and new shareholders, will support the company’s efforts to meet the growing demand for its MESOkine product line, a key component in the production of lab-grown meat.
“We are at a pivotal moment”
Arctica Finance acted as the financial advisor for this capital raise. The funding will allow ORF Genetics to expand its production capacity significantly, with plans to increase output fourteenfold by 2027 and by a factor of 10,000 by 2032. The company is also looking to extend this financing round, with a target of raising up to €7 million by mid-October.
“We are at a pivotal moment. This funding ensures that ORF can meet the imminent surge in commercial opportunities and supports the company’s next growth phase,” said Berglind Rán Ólafsdóttir, CEO of ORF Genetics.
Cultivated meat products powered by ORF
ORF Genetics has developed a unique method for producing growth factors using bioengineered barley, which is more sustainable, cost-effective, and environmentally friendly than traditional production systems. This approach has positioned ORF Genetics as a critical player in the cultivated meat industry, with its growth factors already being used in products from companies like Australia’s VOW, whose cultivated meat products are now available on the market.
Rán Ólafsdóttir continued, “We plan to expand the round by the end of October and welcome new investors to join us in building a company that holds a key position in a market with tremendous growth potential.”
