Seawith Nets ₩1 Billion for State-Of-The-Art Cultivated Meat Production Facility
Korea’s Seawith, developer of cultivated beef, has announced a ₩1 billion investment from Mint Venture Partners. It follows previous backing from Hg Initiative, Daesung Startup Investment and Daily Partners. Seawith uses seaweed-based cell culture mediums and scaffolds to create its beef products. This has allowed for reduced production costs straight off the bat, making commercial sale viable as soon as it is legal. Last year it was reported that the company had ambitions to bring fully realised cultivated meat to consumers in 2022, pending regulatory approval.