April 21, 2022
UPSIDE Foods (formerly Memphis Meats), the leading company in the cultivated meat, poultry, and seafood industry, has announced the close of a US$400 million Series C funding round, the largest round in the industry to date. This new raise will help unlock the industry's biggest opportunities around scale and places the company's valuation at over US$1 billion. Pending regulatory review, UPSIDE Foods plans to be available to consumers in the US later this year.
Latham & Watkins LLP represents UPSIDE Foods in the financing with an emerging companies team led by Bay Area partners Ben Potter and Saad Khanani, with Bay Area associates Betsie Stukenborg and Taimi Jacobson. Advice was also provide on tax matters by Bay Area partner Katharine Moir; on benefits and compensation matters by Bay Area partner Ashley Wagner; on antitrust matters by Washington, D.C. counsel Patrick English; and on CFIUS matters by Washington, D.C. partner Jim Barker.