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Lab-grown meat maker Uncommon raises $30 million from OpenAI's Sam Altman and others

Published 09/06/2023, 05:09
Updated 09/06/2023, 05:10
© Reuters. FILE PHOTO: Sam Altman, CEO of Microsoft-backed OpenAI and ChatGPT creator speaks during a talk at Tel Aviv University in Tel Aviv, Israel June 5, 2023. REUTERS/Amir Cohen

By Sudip Kar-Gupta

PARIS (Reuters) - Lab-grown meat producer Uncommon said on Friday it had raised $30 million from investors including OpenAI chief executive Sam Altman.

The British-based company's latest funding round was led by Balderton Capital and Lowercarbon Capital. Others investors included Red Alpine, East Alpha, early stage investor Sam Altman, Miray Zaki and Sebastiano Castiglioni, it said.

Uncommon chief executive and founder Benjamina Bollag said she looked forward to working with the investors "to make a difference to global health."

Companies producing lab-grown meat say they hope to contribute in the fight against climate change, as producing meat in a laboratory has less impact on the environment than livestock out in a field.

© Reuters. FILE PHOTO: Sam Altman, CEO of Microsoft-backed OpenAI and ChatGPT creator speaks during a talk at Tel Aviv University in Tel Aviv, Israel June 5, 2023. REUTERS/Amir Cohen

They also promote the fact that their products do not involve the slaughter of animals.

"The cultivated meat industry faces significant challenges, from the cost of materials to regulation and scaling," Balderton Capital partner Daniel Waterhouse said. "We're convinced that Uncommon has the formula to become a global leader that will transform how we eat and enjoy meat."

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