Hoxton Farms Raises £2.7M Seed Funding for Animal Fat Production

Hoxton Farms Secures £2.7 Million Seed Funding for Cultivated Fat Production

Hoxton Farms, a U.K.-based startup focused on the development of animal fat produced without the need for animals, has successfully raised £2.7 million in seed funding.

Investment Details

The funding round was spearheaded by Founders Fund, a prominent Silicon Valley venture capital firm established by Peter Thiel. Additional investors included Backed, Presight Capital, CPT Capital, and Sustainable Food Ventures.

Research and Development Expansion

Currently in the research and development phase, Hoxton Farms intends to utilize these funds to expand its team of scientists. This expansion will take place within a newly constructed, dedicated laboratory located in London’s Old Street area.

Co-founder Ed Steele, a mathematician, stated that the company aims to develop a scalable prototype of their cultivated fat within the next 12 to 18 months.

Founding and Scientific Expertise

The company was co-founded by Steele and Dr. Max Jamilly, a longtime friend from school. Dr. Jamilly possesses extensive qualifications, including two degrees in biotechnology and a PhD in synthetic biology.

Dr. Jamilly shared that his doctoral research involved utilizing CRISPR genome editing technology to advance treatments for childhood leukaemia. This experience provided him with crucial expertise in large-scale cell cultivation, a key component of Hoxton Farms’ scientific challenges.

Addressing Limitations in the Meat Alternative Market

Like other businesses in the alternative protein sector, Hoxton Farms is built on the understanding that conventional meat production is environmentally unsustainable.

Demand for meat alternatives is increasing, yet Steele argues that current offerings fall short in terms of both taste and nutritional value. He emphasizes that a critical element is missing: fat.

The Problem with Plant-Based Fat Replacements

Most meat alternatives currently rely on plant oils as a substitute for animal fat. However, this approach presents several drawbacks.

Certain plant oils, such as coconut and palm oil, have negative environmental impacts, and many lack the complex flavour profiles found in animal fats.

Hoxton Farms’ Solution: Cultivated Fat

“At Hoxton Farms, we grow real animal fat without the animals,” explains Steele. The process involves initiating growth from a small sample of cells and cultivating purified animal fat within bioreactors.

This results in a cruelty-free and sustainable ingredient designed to enhance the taste, texture, and overall quality of meat alternatives, bringing them closer to the experience of consuming traditional meat.

Cost Reduction Through Mathematical Modelling

Steele also notes that existing animal cell culturing techniques are often prohibitively expensive.

Hoxton Farms is employing mathematical and computational modelling to significantly reduce the costs associated with cell culture. The company believes this will lead to a production process that is economically viable at a large scale.

Combining Biology and Computation

“We’re combining the latest techniques from computational biology and tissue engineering to do science that wasn’t possible a few years ago,” says Steele.

The company’s core philosophy centers on the idea that combining mathematical modelling with synthetic biology is the most effective path to cost-effective, large-scale cell growth.

Competitive Advantage and Customization

This computational approach is expected to not only position Hoxton Farms competitively against other companies in the cultivated fat space – such as Mission Barns (U.S.) and Peace of Meat (Belgium/Israel) – but also enable the customization of fats for various manufacturers.

This customization could involve adjusting the taste, physical properties like melting temperature, and nutritional composition, including the ratio of saturated to unsaturated fatty acids.

Target Markets and Future Applications

Initially, Hoxton Farms will focus on supplying plant-based meat companies seeking a more sustainable and flavourful alternative to plant oils.

In the longer term, the startup plans to target cultivated meat companies that require a fat source for their products. Further expansion could include applications in industries like bakery, confectionery, and cosmetics.