Gourmey, a cell-based poultry startup based in Paris, announced on July 4th that it had raised $10 million in additional venture funding.
The startup promises cruelty-free foie gras grown in a lab, allowing those concerned with animal cruelty to enjoy the product with no guilt. Production of foie gras has been outlawed in 17 countries due to the feeding process geese have to go through to produce it.
The $10 million in funding received by the startup came from venture capital firms like Point Nine, Air Street Capital, Heartcore, Partech, Big Idea Ventures, Eutopia Ventures, Ataraxia, and Beyond Investing.
With the sale of foie gras representing a $2 billion industry globally, the lab-grown product alternative offered by the startup could be a game-changer.
Gourmet is only one of about 20 companies around the world currently focusing on the production of food using animal proteins without the need for animals.
While the “poultry delicacy” offered by Gourmey was the first product launched due to the need to achieve price parity, the startup is working on producing a full range of lag-grown poultry products.
The funding received will be used to perfect the lab-grown foie gras and build a production facility in Paris that can handle a bigger production volume, as well as expanding its workforce.
Nicolas Morin Forest, Gourmet’s co-founder & CEO, referred to the startup vision by stating,
“We want to show that meat can be produced in the heart of the cities where it is consumed. We want a very short path from ‘cell-cultivator to fork.’”
Gourmet is looking to expand its reach to the global market, a process that can be difficult due to existing (and sometimes lacking) regulations that need to be dealt with. However, the company is planning to expand to the United States followed by Asia.
The cell-based poultry startup expects to deliver its product via fine-food distributors and restaurants across the world in late 2022, taking advantage of increasing concerts about animal cruelty among younger generations and regulators.