Losses on meat alternatives leave investors with sour aftertaste

“As time goes by the uniqueness of our printers will come to the fore, flexitarians will switch into our products and we will eventually produce ‘real’ meat, though it won’t happen in a day,” said Kaufman, whose company’s backers include Renaissance Technologies LLC, one of the world’s most successful hedge fund firms.

“Food security is another driver for this technology,” he said, adding it was no coincidence that Singapore, which imported 90 per cent of its food supply in 2021, was the first country to approve cultivated meat products for commercial sale. The cultivated meat industry raised US$896 million in venture-capital funding in 2022, down from US$1.3 billion in 2021, a slightly smaller fall than the 35-per-cent average year-on-year decline across global venture funding, according to Barclays PLC. The proportion of total investment in the meat-alternative space going towards lab-grown products rose over the same period.

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