FORK & GOOD earns first revenue in cultivated red meat DAVOS tasters split 50/50 on cell-grown vs. real pork ~$30M raised — True Ventures, BBG, Leaps by Bayer SMALL TANKS the contrarian bet against the whole industry 3-4 CALORIES IN, 1 calorie of meat out FORK & GOOD earns first revenue in cultivated red meat DAVOS tasters split 50/50 on cell-grown vs. real pork ~$30M raised — True Ventures, BBG, Leaps by Bayer SMALL TANKS the contrarian bet against the whole industry 3-4 CALORIES IN, 1 calorie of meat out
Niyati Gupta
Niyati Gupta, among the greens — before the meat came from a vat.
Cultivated Meat · The Contrarian

Niyati Gupta

Everyone else is building bigger tanks. She is winning by building smaller ones.

CO-FOUNDER & CEO // FORK & GOOD // JERSEY CITY, NJ

~$30M
RAISED TO DATE
$8B
PARTNER'S REVENUE
50%
FOOLED AT DAVOS
2018
FOUNDED
The Math She Bets On

Feed in, meat out.

Fork & Good frames its whole pitch as a feed-conversion contest. By Gupta's account, the cells beat the animals - roughly four times more efficient than a pig, five times more than a cow.

Cattle
baseline
Pigs
~25% better
Fork & Good
3-4 cal in / 1 out

Illustrative, per Gupta's public claims of relative feed-conversion efficiency. Shorter bar = less feed per calorie of meat.

The Turn

Bullied into it.

Gupta did not set out to grow meat. While consulting for Modern Meadow she co-authored a patent methodology with the scientists there. By her telling, she was then "bullied" into co-founding Fork & Good - talked into running the thing she had helped invent on paper. She partnered with Gabor Forgacs, a pioneer of cultivated meat, splitting the labor cleanly.

We are working together to invent a much more practical, cost-based approach informed by my experience in the food industry and using his expertise in tissue engineering and biophysics. // On co-founding with Gabor Forgacs
The Origin

The feedlot that changed her mind.

Earlier, she advised Nigeria's Ministry of Agriculture on setting up feedlots. Her verdict on the work: "Great for productivity, terrible for sustainability and public health." That tension - more food, worse planet - is the thread that runs through everything after. She went on to run Comcrop, one of Singapore's first commercial rooftop farms, before landing in a vat-meat lab across the river from Manhattan.

Hong Kong → Yale → Harvard → Lagos → Singapore → Jersey City.

In Her Words

Said plainly.

You need to have that flexible, adaptable mindset and a lot of authenticity to do something really, really friggin hard.
We have always been a B2B company.
We developed immortal cell lines and corresponding medium by analysing the waste medium and determining what the cells use.
When we first started, African swine fever had wiped out 25% of the world's hog herd, and our customers were struggling.
In our first scale-up factory, we're targeting $5 per lb for 100% biomass - possible at commercial scale today.
It's so hard to predict. Nobody knows when it will take off.
On The Board

Receipts.

  • Earned what Fork & Good calls the first revenue in cultivated red meat.
  • Raised ~$30M from True Ventures, Starlight, BBG Ventures and Leaps by Bayer.
  • Davos double-blind tasting: ~50% couldn't pick the blend from real pork.
  • Built a Jersey City pilot facility at roughly half conventional meat's carbon.
  • Worked with the FDA and USDA for two years; FDA submission completed.
  • World Economic Forum agenda contributor.
Off The Record

The fun stuff.

  • Rereads Viktor Frankl's "Man's Search for Meaning" every single year.
  • The company was spun out of Modern Meadow - yes, the leather people.
  • She ran a rooftop farm in Singapore before she ever ran a meat lab.
  • Her wish for the field isn't more VC - it's project financing for factories.
  • She'd rather beat a small farm on cost than out-spend a giant rival.
  • "Niya," not Niyati, to almost everyone who works with her.
The Aspiration
Scale cultivated meat like craft beer - many small, efficient cultivators instead of a few giant plants - and get cell-grown pork to the price of the real thing. // The Fork & Good thesis, in one line