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Higher Steaks Raises $30M and Rebrands as Uncommon

UK-based Higher Steaks has changed its name to Uncommon. The rebranded company raised $30 million in a Series A round of funding led by Balderton Capital and Lowercarbon Capital, which it hopes to use to scale up production and kickstart the regulatory approval process in Europe and Singapore. Uncommon’s main focus is to impact the $250 billion global pork market by developing cultivated bacon and pork belly products, as well as other varying mass-market products.

“Singapore is likely to receive the approval first as it is the most developed ecosystem for cultivated meat, with other markets to follow. We will be starting with high-end restaurants first before moving to supermarkets.” - Benjamina Bollag, Uncommon CEO.

"The cultivated meat industry faces significant challenges, from the cost of materials to regulation and scaling. We're convinced that Uncommon has the formula to become a global leader that will transform how we eat and enjoy meat." - Daniel Waterhouse, Balderton Capital partner.

Uncommon differs from competitors with its RNA-powered strategy, which contains chemical instructions that can direct cells to differentiate into fat or muscle on their own. This will ideally allow the team to cultivate meat without genetic engineering or expensive growth media.

On the foreground there is a hamburger with cultivated bacon and cultivated pork cutlet, tomato, lettuce, and cheese on a wooden cutting board. On the background there are crispy cultivated chicken sticks.

Image Credit: Uncommon

Read more on: TechCrunch


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