A startup that makes cultured mozzarella and ricotta cheeses without cows has just got record funding from investors looking to tap the growing market for environmentally friendly dairy alternatives.Berlin-based Formo will use the $50 million of Series A funding — a record for a European foodtech — to expand its product range into mature and ripened cheeses like cheddar and gruyere. The company will also scale up its precision fermentation technology, it said in an emailed statement Monday.
Future Meat Technologies raised $26.75 million in funding through strategic partners. The funding enables Future Meat to scale up production and accelerate its R&D.The cultured meat producer said it will begin marketing its chicken breast to consumers and foodservice within 18 months. Food category players such as Tyson Foods, ADM, Müller Group and Rich’s Products Corp. all back the firm and it has capital investment from S2G Ventures, ADM Capital, Emerald Technology Ventures, Manta Ray Ventures and Bits x Bites.