(Bloomberg) -- Hoping to find the next Beyond Meat, venture investors have more than doubled their bets on alternative protein makers this year, raising more than $1 billion for startups that focus on everything from lab-grown meat to protein derived from volcanic microbes. 

More than 20 faux meat startups raised about $1.4 billion from venture investors in the first seven months of 2020, according to a report on Monday from London-based investor network Farm Animal Investment Risk & Return, known as Fairr. Venture investments in plant-based meat and dairy alternatives soared to $1.1 billion this year, up from $457 million in all of 2019, while investments in companies that grow cell-based meat more than tripled to $290 million from $75 million last year. 

The venture investors backing this space range from companies like Cargill Inc. and General Mills Inc. to pension funds, traditional venture capital firms  and celebrities like Bill Gates and Oprah Winfrey. As a group, they are betting that faux meat and dairy can scale up production quickly to meet a new generation of climate-conscious eaters that want to reduce the impact of livestock on the planet, according to Marisa Drew, head of the impact advisory and finance group at Credit Suisse Group AG.  Plant-based and cell-based meat require a fraction of the water and energy used to manage livestock, but companies also have to invest heavily in marketing and technology to help replicate the look of a hamburger or the texture of seafood.

More in category

This Attorney Lost 55 Pounds Through Running
October 20, 2020Runner's World
This Attorney Lost 55 Pounds Through Running
With Covid-19 soaring nationwide, is coronavirus treatment getting better in the US?
October 21, 2020MSN
With Covid-19 soaring nationwide, is coronavirus treatment getting better in the US?
Trump's Operation Warp Speed adviser says all Americans could be immunized by June
October 21, 2020MSN
Trump's Operation Warp Speed adviser says all Americans could be immunized by June
Covid-19 vaccine volunteer in Brazil's AstraZeneca trial dies
October 21, 2020MSN
Covid-19 vaccine volunteer in Brazil's AstraZeneca trial dies
Supreme Court Bars Curbside Voting in Alabama
October 21, 2020The NY Times
Supreme Court Bars Curbside Voting in Alabama
Man Pleads Guilty to Cyberstalking Tulsa Mayor Before Trump Rally
October 21, 2020The NY Times
Man Pleads Guilty to Cyberstalking Tulsa Mayor Before Trump Rally
Does Cooking Fruit Deplete Its Nutritional Value? RDs Mull It Over
October 21, 2020mindbodygreen
Does Cooking Fruit Deplete Its Nutritional Value? RDs Mull It Over
4 Tart Cherry Juice Benefits for Better Sleep, Heart Health, and More
October 21, 2020MSN
4 Tart Cherry Juice Benefits for Better Sleep, Heart Health, and More
Worked to death: Latino farmworkers have long been denied basic rights. COVID-19 showed how deadly racism could be.
October 21, 2020MSN
Worked to death: Latino farmworkers have long been denied basic rights. COVID-19 showed how deadly racism could be.
A series of 1-minute interactions gave a correctional officer the coronavirus, prompting new CDC guidance about brief exposure
October 21, 2020MSN
A series of 1-minute interactions gave a correctional officer the coronavirus, prompting new CDC guidance about brief exposure
When You Feel Like Your Trauma Isn't Enough
October 21, 2020MSN
When You Feel Like Your Trauma Isn't Enough
CDC: Brief Contact May Increase COVID-19 Risk
October 21, 2020WebMD
CDC: Brief Contact May Increase COVID-19 Risk
25 Drugs, Drug Classes Added to FDA's Safety Signal List
October 21, 2020Medscape
25 Drugs, Drug Classes Added to FDA's Safety Signal List
Why I Hide What's in My Medicine Cabinet
October 21, 2020MSN
Why I Hide What's in My Medicine Cabinet
Bolsonaro Slams Chinese Vaccine His Government Agreed to Buy
October 21, 2020MSN
Bolsonaro Slams Chinese Vaccine His Government Agreed to Buy
This Vertical Climber Is On Sale For $100 Off And Fans Say It's A Beast
October 21, 2020MSN
This Vertical Climber Is On Sale For $100 Off And Fans Say It's A Beast
Friendsgiving Isn't Canceled—Here Are 10 Clever Tips for Hosting a Digital Holiday Dinner Party
October 21, 2020MSN
Friendsgiving Isn't Canceled—Here Are 10 Clever Tips for Hosting a Digital Holiday Dinner Party
Mack Weldon’s Super Popular Face Mask Is Finally Back in Stock Today
October 21, 2020MSN
Mack Weldon’s Super Popular Face Mask Is Finally Back in Stock Today
This Is Exactly Why You Get Turned on When You Workout
October 21, 2020MSN
This Is Exactly Why You Get Turned on When You Workout
9 Unhealthy Coping Habits That End Up Hurting More Than Helping
October 21, 2020MSN
9 Unhealthy Coping Habits That End Up Hurting More Than Helping
470,000 opioid deaths, three criminal charges
October 21, 2020MSN
470,000 opioid deaths, three criminal charges