Meatable on August 8 announced the successful raising of $35 million in fresh capital to bring the Delft, Netherlands-based food tech company’s total funding so far to $95 million. Led by Agronomics, a London-headquartered venture capital firm that specializes in supporting biotech cellular agriculture startups,
Meatable’s successful close saw Invest-NL, a Dutch impact fund, coming on board as a new investor. The round also drew significant renewed support from existing investors, including BlueYard, Bridford, MilkyWay, DSM Venturing and Taavet Hinrikus.
The funding will be used to further scale its processes and accelerate commercial launch of its cultivated meat products. The scale up and process optimization reduce production costs to become cost competitive with traditional meat and reach production to commercial volumes. Starting in Singapore, Meatable aims to launch at selected restaurants and retailers from 2024. The company is also making solid progress on expanding to the United States and beyond, boosted by recent regulatory developments.
In making cultivated pork, Meatable takes one sample of cells from an animal without harming it and replicates the natural growth process of the cells using patented opti-ox™ technology combined with pluripotent stem cells. This technology makes it possible for Meatable to produce real muscle and fat cells in only eight days. This efficiency will enable the company to scale cultivated meat production quickly and affordably.
“We’re thrilled to welcome Invest-NL on board and to have renewed support from our existing investors. Both the regulatory landscape and the continued investments are aligning to show demonstrated momentum. This is a huge sign of confidence in the incredible quality, taste, and proven scalability of our product, especially in the current investment climate,” said Krijn de Nood, co-founder and chief executive officer of Meatable (pictured above at right with Daan Luining, chief technology officer). “We look forward to working closely with our investors as we enter our next growth phase and cement our position as global leaders in the cultivated meat industry.”
