Memphis Meats has been at the forefront of the rise of the lab-grown meat industry, but now it has rebranded and renamed itself as ‘UPSIDE Foods.’
The announcement follows a historic US$161 million Series B funding round, alongside their plans for their first consumer lab-grown meat to go on sale in 2021 - chicken.
Memphis Meats Name Change to UPSIDE Foods
Memphis Meats, now ‘UPSIDE Foods’, was founded in 2015 by cardiologist Uma Valeti alongside Nicholas Genovese and Will Clem. Their goal was to focus on developing cell-cultured meat, poultry and seafood.
The name change has arisen as the company is now in a position to focus on consumers. It has spent the past few years developing and researching lab-grown meat, including the world’s first cultured meatball in 2016 and the world’s first cultured poultry in March 2017.
“If You Love Chicken and The Planet, UPSIDE Is For You”
Uma Valeti, CEO of UPSIDE Foods said, “Our team introduced the world to cultured meat, and the evolution to UPSIDE Foods communicates our passion and potential to make our favorite foods healthier for the planet.”
“Our new name showcases the work we are doing to make eating meat a force for good. We can’t wait for consumers to try our UPSIDE chicken soon. If you love chicken and the planet, UPSIDE is for you.”
“The Future of Food is All About Activating the Upside”
Maria Occarina Macedo, Director of Brand and Creative at UPSIDE Foods added, “We want to become the preferred brand for the next generation of meat lovers, and we wanted our brand to reflect the essence of what our product and company is all about: delicious, sustainable and humane meat for everyone. The future of food is all about activating the upside.”
What is Lab-Grown Chicken?
Lab-Grown chicken is a form of meat grown naturally from animal stem cells. It’s effectively real meat, but without the need to raise or slaughter an animal. It’s not plant-based either.
UPSIDE Foods has chosen chicken as their first lab-grown meat to help commercialize as they’ve recognized chicken is becoming the meat of choice worldwide. Plus, its versatility is suitable for almost all cultures and cuisines.
The peer-reviewed journal Foods reports that the average consumer predicts lab-grown proteins will make up at least 40% of their future meat consumption.
Read our guide on ‘What is Lab-Grown Meat?’ here.
Investments with Kimbal Musk
UPSIDE Food’s historic US$161 million Series B funding round is not something to overlook. This is clear evidence that investors, including Softbank Group, Norwest and Temasek (backed by the Singapore government), are trusting and believing in the company.
UPSIDE also has a host of celebrity investors, including Richard Branson, Bill Gates and Kimbal Musk.
Kimbal Musk is the brother of Elon Musk is a South African-born restaurateur, chef, and entrepreneur. Kimbal Musk tweeted, “Congrats Uma and @MemphisMeats. You are an essential part of our sustainable food future.”
Lab-Grown Chicken for Sale This Year
The most exciting news is the imminent arrival of lab-grown chicken.
UPSIDE Foods developed the world’s first cultured poultry in 2017, but it has yet to hit stores. Now, they plan on selling in the U.S. in 2021 (pending regulatory review)!
“Consumers are hungry for products that are humane, sustainable and delicious, and UPSIDE Foods is meeting them at the center of their plates with meat they can feel good about,” said John Mackey, CEO of Whole Foods.
“This has the potential to revolutionize the way people eat and is incredibly exciting. The world 20 years from now may be completely different due to UPSIDE Foods, which is why I’ve personally invested in the company.”
To get cultured meat on grocery store shelves fast, UPSIDE foods has broken ground on a pilot plant. Located in the San Francisco Bay Area, this is the first-ever custom-built, all-in-one facility for producing, packaging and shipping lab-grown meat.