Magic Valley (ASX: MGC) shows skin with lab meat startup

Cellular agriculture start-up Magic Valley breakthrough with its cell-based meat development process, creating lamb using no animal by-products except a small skin scraping for the first time.

The business, kicking off a $5 million seed capital raise valuing the business at $20 million, was founded in 2020 and is hoping to have products on supermarket shelves within 24 months.

The early-stage company is a competitor to Square Peg Capital and Blackbird Ventures-backed Vow.

The Company’s ASX shares are 1.6c.

About Magic Valley

Magic Valley is an innovative Australian food company developing healthy and delicious cultivated meat products.