Emergy Inc. has raised just more than $28.2 million in its Series A funding round as it continues to try to perfect plant-based steaks and other cuts of meat.
The Boulder company raised the money from 44 investors, according to a disclosure to the U.S. Securities and Exchange Commission Wednesday.
The company declined to comment Thursday morning.
Emergy’s goal is to create a process to make plant-based meat similar to Beyond Meat Inc. (Nasdaq: BYND) and Impossible Foods. But rather than producing foods similar to ground meat such as hamburger or sausage, Emergy is trying to create whole cuts of meat, such as chicken breasts or steak.
Tyler Huggins and Justin Whiteley, the company’s co-founders, moved the firm to Boulder from Chicago, where they had a $6 million grant from the U.S. Department of Energy to research ways of making food with fewer resource inputs. The pair have doctoral degrees from the University of Colorado Boulder.
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