Gourmey secures €48m in Series A funding

Oct 5, 2022 | Paris – Gourmey, a producer of premium cultivated meat, announced it has successfully closed €48m in Series A funding led by Earlybird Venture Capital along with Keen Venture Partners, Omnes Capital, Eutopia, Discovery and Thia Ventures. Existing investors Heartcore, Partech, Point Nine Capital, Air Street and Beyond Investing also participated in the oversubscribed round. Gourmey will use the capital to expand their team, finance industrial equipment and invest further in R&D and product development.

Gourmey - Reimagining meat for an uncompromising and conscious generation

Headquartered in Paris, Gourmey was founded in 2019 by Nicolas Morin-Forest, Antoine Davydoff and Victor Sayous, who share a long-standing commitment for social and environmental causes with experience in cultivated food and consumer brands.

Gourmey creates sustainable culinary-grade meats from real animal cells. Cultivated meat production consumes significantly less land and water and could cut the climate impact of meat production by up to 92%. The company has a strong focus on taste through gastronomic and food sciences, with an initial focus on premium and high-quality meats.

The financing will enable Gourmey to achieve several major industry milestones, including opening a 37,000-square-foot commercial production facility and R&D center in Paris, France – the largest cultivated meat hub in Europe – to fast-track commercialization globally. The company will also triple its 40+ world-class team and keep expanding its product portfolio in collaboration with chefs, culinary partners and food distributors.

Gourmey’s first-of-its-kind cultivated meat hub and commercial production facility is set to welcome 120 engineers, culinary experts and operators by 2024 with a planned annual production capacity of tens of thousands of pounds of high-quality cultivated meats starting with its flagship product: slaughter-free foie gras.

Nicolas Morin-Forest, Co-founder and CEO at Gourmey, said: “Food is the single strongest lever we can action as individuals to slow down climate change. Today, we are thrilled to see our vision of a more sustainable food system come to life as we are moving from R&D to production and commercialization with the building of one of the largest cultivated meat plants in the world. Gourmey’s products have already convinced Michelin-starred chefs as well as leading meat distributors globally. The next few months and years are going to be immensely pivotal and exciting not only for Gourmey but more broadly for cultivated meat and sustainable foods.”

Alexander Ribbink, General Partner at Keen Venture Partners, commented: “We are committed to joining Gourmey in its mission to help satisfy the world’s growing appetite for meat without compromising on planetary health or flavor.”

Christian Nagel, Managing Partner at Earlybird Venture Capital, added: “Gourmey is well positioned to become a global winner and lead the paradigm shift towards a more sustainable, equitable and resilient food supply chain. The company’s exceptional team has demonstrated how so-called frontier technology’s bottlenecks can be overcome at record-speed.”

About Gourmey - Gourmey’s mission is to accelerate the world’s transition toward more ethical, sustainable and healthy meat. The company creates sustainable restaurant-grade meats directly from real animal cells, thereby significantly reducing the impact on the environment. Founded in 2019 by CEO Nicolas Morin-Forest (ex-L’Oréal), CTO Dr. Victor Sayous, PhD in molecular biology, and CSO Antoine Davydoff, cell biologist, the company is now a team of 40+ world-class scientists and engineers in the fields of gastronomic and food sciences, bioprocess engineering, andstem cell biology.

About cultivated meat - Cultivated meat is real animal meat produced from animal cell culture, providing an efficient source of protein while reducing climate emissions and the demand for resources and land. A recent study by the Dutch University of Delft showed for instance that cultivated meat production reduces climate emissions by up to 92 percent compared to conventional methods and land use by up to 95 percent. The category could make up as much as 35 percent of the $1.8 trillion global meat market by 2040 (according to an estimate from consulting firm Kearney).