Higher Steaks Transforms into Uncommon, Securing $30M Funding
Cambridge-based cultivated meat startup, Higher Steaks, rebrands as Uncommon after successfully raising $30 million in a Series A funding round. The company aims to revolutionize the global pork market by developing bacon and pork belly products.
Overcoming Regulatory and Market Challenges
The adoption of lab-grown meat faces regulatory hurdles, with only Singapore currently allowing its sale. Uncommon hopes to navigate these challenges by utilizing a technique involving RNA, enabling protein synthesis without genetic engineering. The company aims to scale its cultivated meat production globally, taking advantage of regulatory developments.
Scalability Solutions in Cultivated Meat Production
Scaling up production and achieving price parity with traditional meat have been ongoing challenges in the cultivated meat industry.
Uncommon’s innovative approach focuses on targeting muscle and fat regulators using its patent-pending RNA technique. By reducing raw material requirements, the company aims to scale the process more efficiently and cost-effectively.
Series A Funding and Strategic Investors
Uncommon’s $30 million funding round was led by Balderton Capital and Lowercarbon Capital, with participation from prominent institutional and angel investors. Notable investors include Sam Altman from OpenAI, signaling growing interest in cultured meat technology.
The funding will support production scaling, regulatory approvals in Europe and Singapore, and potential market entry into the United States.
Future Market Expansion and Commercialization Plans
Uncommon foresees Singapore as the initial market for cultivated meat due to its advanced ecosystem. The company plans to introduce its products to high-end restaurants first, gradually expanding to supermarkets. While the timeline for commercialization remains uncertain, Uncommon aims to play a significant role in shaping the future of meat consumption.
Shaping the Cultivated Meat Industry
Uncommon’s approach to cultured meat production, focusing on scalability, regulatory compliance, and cost efficiency, demonstrates its commitment to transforming the industry.
By offering sustainable alternatives to traditional meat products, Uncommon aims to disrupt the global market and meet the growing demand for ethical and environmentally friendly food choices.