Bay Area Company Secures Funding to Launch “The Future of Meat”
Pleasanton, CA (January 7, 2021) – Air Protein, a pioneer in producing meat made from elements of the air, today announced the successful completion of its $32 million Series A round of fundraising. Led by Founder and CEO Dr. Lisa Dyson, Air Protein will use the funding to launch an innovation R&D lab, accelerate product development and commercialization, and to recruit and build a world-class team.
Air Protein was inspired by Dr. Dyson’s mission to build a modern meat company to introduce nutritious, ultra-sustainable, alternative proteins that can sustainably feed the world’s growing population. The Series A is led by ADM Ventures, Barclays and GV (formerly Google Ventures).
“With this funding, we will be able to accelerate our work towards providing innovative, environmentally-friendly, highly nutritious alternatives that will play an important role in meeting the growing global demand for alternatives to animal protein,” said Dr. Dyson. “We are commercializing a novel technology platform that is capable of scaling to large-scale production to help feed the world’s 10 billion people by the year 2050, in the most sustainable approach available today.”
Air Protein uses a unique technology to produce protein in sustainable, vertical “farms” that can be built virtually anywhere on the planet. Air Protein meat can be produced in days, making it highly scalable and extremely planet friendly.
“It’s essential to explore a variety of alternative solutions and options to help meet the growing global population’s demand for protein,” said Darren Streiler, Managing Director of ADM Ventures, the corporate venture capital arm of ADM. “ADM is a global leader in alternative proteins, and we are excited to help leverage our vast experience with fermentation solutions to help bring Air Protein’s innovative new ideas to the market.”
Andrew Challis, Co-Head of Principal Investments at Barclays, said: “Air Protein is a compelling solution to the growing challenges of sustainably feeding the world’s population while tackling climate change and biodiversity loss. This provides an exciting investment opportunity for us to help Air Protein advance its ambitious strategy.”
“At GV, we’re drawn to invest in the future of sustainable food, and Air Protein provides a unique protein source with proven yields and production efficiency,” said Andy Wheeler, General Partner at GV. “Air Protein holds considerable potential as a modern meat alternative, and we’re looking forward to seeing what CEO Lisa Dyson and the founding team create in the company’s next phase of growth.”
About Air Protein
Air Protein, founded in 2019, makes meat from elements in the air to sustainably feed the future. Based in San Francisco’s Bay Area, Air Protein is a subsidiary of Kiverdi, Inc., a research and technology company working on the science of carbon transformation to create game changing products and systems. Air Protein is a recipient of numerous awards and recognitions and recently received the Technology Pioneer Designation from the World Economic Forum for the company’s contributions in the field of food technology.
At ADM, we unlock the power of nature to provide access to nutrition worldwide. With industry-advancing innovations, a complete portfolio of ingredients and solutions to meet any taste, and a commitment to sustainability, we give customers an edge in solving the nutritional challenges of today and tomorrow. We’re a global leader in human and animal nutrition and the world’s premier agricultural origination and processing company. Our breadth, depth, insights, facilities and logistical expertise give us unparalleled capabilities to meet needs for food, beverages, health and wellness, and more. From the seed of the idea to the outcome of the solution, we enrich the quality of life the world over. Learn more at www.adm.com.
About Barclays Sustainable Impact Capital initiative
As part of its broader commitments, Barclays will invest GBP175m of its own capital, led by the Principal Investments team, in fast-growing, innovative, environmentally-focused companies whose values are aligned with those of Barclays and which target the goals and timelines of the Paris Agreement. Investments will be strategic to Barclays, its clients, and the communities it serves, with clear scalable propositions that deliver both environmental benefits and economic returns.