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.

By Pamella de Leon

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.

Bond Pet
Bond Pet Food team

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

Pamella de Leon

Startup Section Editor, Entrepreneur Middle East

Pamella de Leon is the Startup Section Editor at Entrepreneur Middle East. She is keen on the MENA region’s entrepreneurship potential, with a specific interest to support enterprises and individuals creating an impact.

Related Topics

Marketing

The Miley Cyrus Approach To Marketing — Why It's a Radically Different Method For Achieving Brand Impact

In case you missed it, Miley Cyrus recently won her first Grammy. In her acceptance speech, she told a story that is a great learning lesson for business owners and marketers alike, especially those who find themselves burned out and exhausted in this current environment.

Business News

HP Wants You to 'Never Own A Printer Again,' Launches Rental Subscription

In February, HP's CEO Enrique Lores stated that making printing a subscription service was the company's "long-term objective."

Business Ideas

55 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

2024 Could Be the Year that Makes or Breaks a Lot of Small Businesses, According to a New Report

About a third of small business owners indicated on a Slack survey that they aren't sure if their businesses will survive the year.

Living

This 'Clairvoyant' Thought Exercise Can Help You Make the Right Choice in Just Seconds, Says Google's Former Chief Decision Scientist

Cassie Kozyrkov, leader in decision intelligence and CEO of Data Scientific, delves into effective decision-making and its role amid the rapid advancement of AI.

Business News

IKEA Price Increases Are Going Viral — Here's How Much Your Favorite Couch Costs Now: 'Inflation Is Crazy'

A video with a customer complaining about "inflation" and "corporate greed" has racked up over 1.3 million views on TikTok.