Meatable raises US$47M in Series A funding to scale and expand cultivated meat portfolio
24 Mar 2021 --- Netherlands-based Meatable has closed US$47 million in its Series A funding round, bringing the cultivated meat start-up’s total funding to US$60 million.
“With this funding, we are well on our way to bringing our first products to market to sustainably satisfy the world’s appetite for meat,” says Krijn de Nood, CEO and co-founder of Meatable.
The company finalized its first showcase product in 2020 and aims to use the new funds to advance small-scale production at the Biotech Campus Delft, the Netherlands, and diversify its product portfolio.
Support from investors
The consortium consists of Dr. Rick Klausner, the former executive director of Global Health at the Bill & Melinda Gates Foundation; Section 32; Dr. Jeffrey Leiden; and DSM Venturing. Its existing investors include BlueYard Capital, Agronomics, Humboldt and Taavet Hinrikus.
The investors recognize the impact cultivated meat can have on climate change and are supporting Meatable with its patented opti-ox technology.
Meatable’s end-product will provide the full experience of eating actual meat.Meatable’s tech
Meatable’s proprietary platform technology enables a fundamentally more cost-effective and scalable production process. It replicates the natural process of fat and muscle growth in proportions that emulate traditional cuts of meat.
The entire process, when fully developed, is expected to take only weeks to produce meat, whereas it takes years to grow a live animal.
Klausner sees great potential in Meatable and its technology.
“We are committed to joining Meatable in its mission to address the world’s most pressing challenges. We see a smart start-up that has accomplished a lot in a short amount of time. It has a great team and game-changing technology that can address the challenges around the global food insecurity issues our planet is facing,” says Klausner.
“It has all the right ingredients to become the leading choice for sustainably and efficiently produced meat.”
“To be able to meet the growing demand for meat worldwide, we need breakthrough solutions. Cultivated meat has the potential to continue to produce the product we love – meat – using a much more efficient production process,” explains de Nood.
Applicable to any species
Meatable’s end-product will provide the full experience of eating actual meat, with the same texture, taste and nutritional benefits.
After completing its first pork showcase product, Meatable is currently focused on developing cultivated pork and beef. Meatable’s technology is adaptable to any cell-based species, including cows, pigs, sheep and fish.
Edited by Elizabeth Green
