Singapore's cell-based shrimp producer Shiok Meats raised $3 million (€2.6 million) to build its first facility as it works towards commercializing the business within the next two to three years.

The capital was raised in a bridge funding round led by UK-based investor Agronomics, US-based investment firm VegInvest, angel fund Impact Venture and UAE-based Mindshift Capital Fund.

Shiok Meats, which is still in its research and development phase, is working towards a Series A funding round by the end of 2020.