US-Based Startup Creating Lab-Made Protein For Pet Food Gets A Boost From KBW Ventures And Other Investors The lab-grown meat industry is getting a boost, and this time, even our furred friends will feel its impact too.
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The lab-grown meat industry is getting a boost, and this time, even our furry friends will feel its impact too. Bond Pets Foods Inc, a US-based startup utilizing biotechnology to develop lab-made protein for pets, announced the completion of its seed funding round, totaling to US$1.2 million. The round is led by Lever VC, along with Agronomics, KBW Ventures, Plug and Play Ventures, and Andante Asset Management.
Launched in 2017 by co-founders Rich Kelleman and Pernilla Audibert, the US-based pet food manufacturer employs the same fermentation technology that is used to produce ingredients for cheese making or insulin for diabetics. Bond adjusts the process to instead harvest high-quality meat proteins like chicken, turkey, beef, and fish, but without the animal.
HRH Prince Khaled bin Alwaleed bin Talal Al Saud, founder and Chief Executive Officer, KBW Ventures
With their proprietary approach, animal muscle protein genes are taken from a farm animal and added to a microbe such as yeast, then put into a fermentation tank and fed simple sugars, vitamins and minerals. This produces proteins that are nutritionally identical to their meat counterparts without the environmental, animal welfare and safety downsides. The ingredients are then used as the foundation of Bond's complete recipes.
With the new capital infusion, the startup can dive further into research and development to boost Bond's animal production and introduce its first consumer product early next year: a protein-packed dog treat bar made with a pure yeast protein. "This raise gives us the capital to make strides with our technology and introduce pet parents to a new and better way of feeding their dogs and cats," said Rich Kelleman, co-founder and CEO of Bond Pet Foods. "We started Bond to deliver high nutrition to our pets without harm to other animals or to our planet, and we're excited to bring our transformative products to the world in the months ahead."
Bond's mission has piqued the attention of HRH Prince Khaled bin Alwal bin Talal, CEO and founder of KBW Ventures, to back the concept. As a known advocate for sustainability, technology and animal welfare, Prince Khaled decided to join as an investor "because we see that their proprietary approach to production has far reaching implications. The technology and science behind Bond products is in line with our values; we want to back ventures that are commercially-promising and that seek sustainable solutions."
Related: Lab-Growing Meat Startup Raises US$17M From KBW Ventures And More High-Profile Investors