Plant-based food start-up Eat Just receives $200 million investment led by Qatar

Plant-based food start-up Eat Just receives $200 million investment led by Qatar

Cultured meat is made by putting stem cells from the fat or muscle of an animal into a culture medium that feeds the cells, allowing them to grow. The medium is then put into a bioreactor to support the cells' growth. By 2030, the cell-based meat market is projected to reach $140 billion, according to forecasting compiled by impact investing firm Blue Horizon Corp.

Last December, regulators in Singapore issued Eat Just the world's first approval for its cultured meat product "GOOD Meat," which the company started developing in 2016. Eat Just's chicken replacement made its historic debut at restaurant 1880 in Singapore.

Eat Just, a company best known for creating plant-based food products, announced Tuesday that it has raised a $200 million fundraising round led by the Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar.

Eat Just, formerly known as Hampton Creek, first rose to prominence with the the backing of Bill Gates, Marc Benioff and a board that included former HHS Secretary Kathleen Sebelius. But a series of scandals plagued the company and its co-founder and CEO Josh Tetrick, including concerns about the safety of its products and an alleged scheme to buy back jars of its JUST