UPSIDE Foods Becomes First Company in the World to Receive FDA Green Light for Cultivated Meat
UPSIDE Foods, formerly known as Memphis Meats, just announced it has received approval from the US FDA for its cultivated chicken, marking the first time in the world a company has received a No Questions letter from the US FDA for cultivated meat, poultry, or seafood. “Before entering the U.S. Market, the food must meet other federal requirements,” states the FDA document, meaning that market entrance is not yet granted …
UPSIDE Foods Achieves Unicorn Status Following Largest Ever Fund Round in Cultivated Meat
UPSIDE Foods (previously Memphis Meats) announces a $400 million Series C round which included returning investors Cargill, Tyson Foods, and Bill Gates. UPSIDE says this is the largest round in the industry to date and brings its valuation to over $1 billion, thus achieving Unicorn status. The news closely follows Upside’s acquisition of Culture Decadence, producer of cultivated lobster. Pending regulatory approval, which is slated to take place in 2022, …