Bill Gates, Jeff Bezos And Richard Branson Lead Ginkgo Bioworks’ $90 Million Funding Round For The Creation Of Motif Ingredients
Motif has announced that they plan to raise $90 million through a funding round led by Breakthrough Energy Ventures. The fund includes Bill Gates, Jeff Bezos and Virgin Atlantic’s Richard Branson.
Impossible Vegan Burger behind Motif Ingredients
The CEO and co-founder of Ginkgo Bioworks, Jason Kelly, indicated that there is a growing demand for plant-based protein alternatives and animal free foods which motivated the company to start up Motif ingredients. Jason stated that Impossible Foods’ success encouraged the company to start plotting for the new startup since 2017.
Motif intends to leverage the growing market of plant-based proteins by helping producers attain scale by using is biotechnology platform. The company uses the technology to ferment plant-based ingredients into those similar to meat, cheese, and eggs synonymous to Impossible Foods’ soy hemoglobin that gives the Impossible Burger it’s meaty texture. The company is also using its biotechnology platform to mimic traditional cow milk.
Jonathan McIntyre, the CEO of Motif indicted that access to nutrition and sustainability are some of the biggest challenges that the food industry is facing in this era. Current food trends are quickly changing, and consumers prefer to eat healthy foods. Jonathan indicated that fermentation if offering a solution to the notion that it is costly to produce plant-based proteins and that the taste may not be like the animal products. He added that fermentation and their biotechnology would help propel Motif Ingredients as the next generation food producer with sustainable, affordable as well as an accessible ingredient that is up to the standards of vision brands, chefs as well as food developers.
Investment in other food companies
Gates, Bezos and Branson, have equally invested in various vegan companies such as Beyond Meat and Impossible Foods. For instance, Gates has a stake in Memphis Meats, Impossible Foods, and Beyond Meat. Gates is investing in Ginkgo Bioworks through his investment firm Cascade Investment. Ginkgo is a company that creates made-to-order cultures for its customers in the food, agriculture, and pharmaceuticals.
Motif Ingredients will add to the growing number of companies producing plant-based foods. It will be operating from Ginkgo Bioworks’ Boston based facility. Its bioengineering platform features a host of bacteria and yeast that are fermented to produce a variety of food ingredients.
Breakthrough Energy Ventures has not invested in Motif Ingredients only. They equally took part in a $33 million funding round last month for Sustainable Bioproducts. Sustainable Bioproduct is a startup that develops plant-based foods using microorganisms that they get from a volcanic hot spring in Yellowstone National park.
Plant-based products could sustain a growing population
Sometimes Back bill gates indicated that meat productions have a lot of impact on the environment because of the ample space needed as well as water. With a growing global population, there cannot be enough meat to meet the demand thus the need for technology to produce plant-based products although not everyone can be a vegan. It is necessary therefore to keep creating more meat options to save resources from depletion.