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27th January 2022 Content supplied by: UPSIDE Foods (formerly Memphis Meats)
UPSIDE Foods Acquires Cultivated Seafood Company Cultured Decadence
UPSIDE Foods (formerly Memphis Meats), the leading company in the cultivated meat, poultry, and seafood industry, announced today the acquisition of Cultured Decadence, a cultivated seafood company from Madison, WI.
Cultured Decadence was founded in 2020 and has developed proprietary cell lines and cell feed for a variety of cultivated seafood products, including lobster and other crustaceans.
This acquisition will enable UPSIDE to complement and expand its product portfolio and accelerate commercialization of a range of seafood products grown directly from animal cells. Cultured Decadence will continue to develop cultivated lobster, scallops, and other seafoods, adopting UPSIDE's brand and remaining in Wisconsin as UPSIDE's Midwest hub.
This acquisition follows the recent opening of UPSIDE's Engineering, Production, and Innovation Center (EPIC) in California. EPIC is the world’s most advanced production facility for cultivated meat, poultry and seafood. It will use a multi-species technology platform to produce both UPSIDE’s and Cultured Decadence’s products.
"Seafood has a rich and delicious culinary tradition that makes it a favorite across the globe. Cultivated seafood also has a tremendous potential to benefit the world," said Dr. Uma Valeti, Founder and CEO of UPSIDE Foods. "Cultured Decadence's technology is incredibly promising, and their team is filled with passionate, smart individuals who want to make seafood a force for good. We're thrilled to welcome the Cultured Decadence team to the UPSIDE family and are excited that the scientific, technological, and production infrastructure we have built over many years can help accelerate its mission."
"We've long admired UPSIDE's innovation and leadership in the cultivated meat industry," said John Pattison and Ian Johnson, co-founders of Cultured Decadence. "UPSIDE's unparalleled R&D and scale up capabilities will significantly accelerate the commercialization of delicious and humane seafood. Uma and his team's 'Big Tent' mentality resonates deeply with us, and we are incredibly proud and humbled to be joining such a talented group with a deep shared sense of mission, purpose and commitment to doing the right thing. There's nobody else we'd rather join to build the future of food."
In addition to the grand opening of EPIC, UPSIDE recently announced a partnership with 3-Michelin Star chef Dominique Crenn and an investment from Whole Foods' CEO John Mackey. In April 2021, Cultured Decadence announced an oversubscribed pre-seed funding round and receipt of Wisconsin state grants.
To learn more about UPSIDE Foods, visit upsidefoods.com
Date Published: 27th January 2022
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