New Age Meats announced today that it has raised $25 million in Series A funding, a crucial milestone that will allow the Berkeley-based cultured meat company to begin production by 2022.

Hanwha Solutions of South Korea led the funding round, with strong follow-on funding from previous investors SOSV's IndieBio, TechU Ventures, ff VC and Siddhi Capital. Hanwha ranks among the largest business conglomerates in South Korea.

New Age Meats was founded to make better meat while improving human health, animal welfare, and the environment. New Age Meats moved into lab facilities in Berkeley and is building out its science and engineering teams as it develops products to bring to market in the coming years.