Memphis Meats | Wikipedia audio article
Channel: wikipedia tts
Date: 12/12/2018

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Memphis Meats





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SUMMARY
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Memphis Meats is a food technology company headquartered in San Francisco aiming to grow sustainable cultured meat. The company was founded by three scientists: Uma Valeti (CEO), Nicholas Genovese (CSO), and Will Clem. Valeti is a cardiologist and a professor at the University of Minnesota.The company plans to produce various meat products using biotechnology to induce stem cells to differentiate into muscle tissue and to manufacture the meat products in bioreactors. In February 2016 Memphis Meats published a video of a cultured meatball, and in March 2017 the company published a video of cultured chicken and duck dishes.In August 2017 Memphis Meats announced that it had raised a $17 million Series A funding round. The round was led by DFJ, and also included investment from Bill Gates, Richard Branson, Suzy and Jack Welch, Cargill, Kimbal Musk and Atomico.The production cost of the cultured beef was $18,000 per pound ($40,000/kg), and the production cost of the cultured poultry was $9,000 per pound ($20,000/kg). As of June 2017 the company had reduced the cost of production to below $2,400 per pound ($5,280/kg). The company said it anticipated cost reductions and commercial release of its products by 2021.Following the announcement of its funding round, Memphis Meats launched a recruiting campaign to grow its team.