Joes Future Food Tech Secures More Funding for Cultivated Pork in China
©Joes Future Food
China-based Joes Future Food Tech says it has secured “tens of millions” of Yuan (RMB) in a Series A+ funding round exclusively funded by Qiming Venture Partners. Joes fresh funding round will help the tech company establish a pilot plant that can produce cultured meat on a thousand-liter scale, aimed at developing market-competitive cultured meat products. By 2025, Joes says it will help to reshape the landscape of protein supply.
Joes Future Food became the first China-based company to create cultivated meat in the country. Since its launch in 2019, the company has led the domestic cultivated meat industry into the pilot production phase, employing 100-liter bioreactors, and has become the leader in cultivated meat production in China. The company is involved in scientific research, industrialization, and regulatory policy exploration, harnessing the capabilities and resources of a comprehensive industry chain.
Recently, Chinese and U.S. regulators met to discuss the regulatory approval processes for cultivated meat. China says it is turning its focus to safety assessments of cultivated meat, with announcements expected this year. Yan Song, director of Division III Risk Assessment at China’s National Center for Food Safety Risk Assessment said in a statement that the center’s 2023 plans include setting up expert working groups to “ensure innovation, industry development, and food safety move forward together.”
