Biotech disrupter CellRev, which aims to revolutionise the way cells are grown, has raised a further £1.75million from a group of investors, to accelerate research & development and strengthen their commercial team as they prepare to take their bioreactor technologies to market.

This funding follows a seed investment of £1.2m in January 2021, which involved the North East Innovation Fund, supported by the European Regional Development Fund (ERDF), and the Northern Accelerator Seed Investment Fund (NASIF), both managed by Northstar Ventures.

Leo Groenewegen CEO of CellRev said: “I am delighted to announce the investment from Happiness Capital and Allusion.

“We have been able to secure growth funding from very reputable investors and are now ready to accelerate the development of our products and our company at an increased pace. Looking forward we will be bringing our enabling technologies to market soon, doing our part to bring high quality and affordably cultured meat to consumer’s plate sooner rather than later!”