Hong Kong Cultivated Flesh Startup Avant, procure 3.1 million dollars for the market for products

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China's meat biotech startup AVANT has raised a 3.1 million dollar in the Sea Dround and closed the seed procurement round to strengthen the R & D department and support the commercialization of products.In this round, China Venture Capital, Angelhub, ParticleX, Lever VC, CPT Capital, Loyal VC, Artesian, 208 Seed Ventures, PTG FOOD (Tora Food), PTG FOOD (Tora Food)Chairman Markus Haefeli and others participated.

Hong Kong -based AVANT directly produces animal proteins from fish cells through a completely sealed bioprocess with the unique technology of patent application.This protein assumes applications such as food and skin care.With Avant aiming to launch products in the market in 2021, the funds raised in this round will be used to reduce manufacturing costs.

We will accelerate cooperation with sustainable marine products and functional protein industries and accelerate the adoption of our products in existing global supply chains.(Avant CEO's Carrie Chan)

According to Barclays analysts, the alternative meat market can reach $ 140 billion in the next 10 years.According to them, this rapid growth pace is an animal -free (meat procurement that does not sacrifice animals), but by that time, the world's meat market 1.It is said that it will account for about 10 % of $ 4 trillion.

We believe that our investors are more motivated to consumption and investment in cultured meat.(Angelhub co -founder Karen Contet)

Currently, various companies are working on sustainable proteins.ALEPH FARMS, Clara Foods, Ecovative Design, and Gooddot are only one example of the Avant world.Another competition is Singapore's Eat Just, and the company has recently approved chicken raised in labs from Singapore regulators.

(Note: The following descriptions about Avant seem to be misused information about the online lending platform based in the United States. From the viewpoint of the respect of the original article, it is posted as it is.)

AVANT has so far raised a total of $ 1.6 billion in nine rounds.From the E -round in September 2015 to the latest procurement, the US $ 325 million was raised.

[Via Tech in Asia] @Techinasia

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