BY VICKY LEWIS
UK cultivated meat company, Higher Steaks, has raised $30m in investments and changed its name to Uncommon.
The Cambridge-based company uses patented technology to create bacon and pork belly from a single animal cell, meaning antibiotics and animal products are redundant.
Investments have come from various avenues, including Balderton Capital, Lowercarbon Capital and the creator of ChatGPT, Sam Altman. This is Mr Altman’s second round of funding for the company, having invested in Uncommon at its infancy.
There have been various global hurdles to overcome for the company, and Singapore is currently the only market in the world where cultured meat is available for sale. The US FDA is reportedly looking to give the green light to approving similar products, whilst some countries, including Italy, are pushing back against the process. However, the company is looking forward, aiming for a 5% share of the global pork market by 2035.
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